Equity market gains N241bn

Transactions on the floor of Nigerian Exchange on Wednesday closed northward, appreciating by N241 billion as gains recorded in the shares of Seplat Energy, Okomuoil oil, Oando Plc, United Bank for Africa, Zenith Bank, FBNHoldings, Fidelity Bank and others listed market activities.

Market capitalization of listed equities increased by 0.43 per cent to N56.881 trillion from N56.640 trillion traded on Tuesday.

The NGX All Share Index also appreciated by 418.83 points to 98987.42 points from 98568.59 points traded the previous day.

As a result of good performance the year to date return went up to 32.38 per cent as 31 companies closed in Green while 24 firms closed in red.

An analysis of the investment showed that Flour Mills Nigeria Plc and Seplat Energy led gainers table with appreciating by 10 per cent each to close at N60.50 and N4103.10 per share, EllahLakes followed with a gain of 9.97 per cent to close at N4.08 per unit, HoneyWell Flour added 9.87 per cent to close at N5.09 per unit, ABC Transport up by 9.57 per cent to close at N1.26 per unit.

On the contrary, Multiverse topped losers chart, dropping by 9.90 per cent to close at N9.10 per unit, Caverton Business Solutions trailed with a loss of 9.86 per cent to close at N3.29 per share, Mansard Insurance down by 6.78 per cent to close at N5.50 per unit, FBNHoldings fell by 6.45 per cent to close at N29.00 while Fidelity Bank dipped by 6.40 per cent to close at N15.35 per unit.

Volume of trades declined by 159.699 million, representing 20.93 per cent as investors traded 603.301 million shares valued at N12.581 billion in 9723 deals against 763.000 million shares worth N11.780 billion in 12081 deals.

Trading in the shares of Fidelity Bank led market activities with 121.733 million shares valued at N2.069 billion, FBNHoldings followed with account of 108.771 million shares worth N3.456 billion, Transnational Corporation of Nigeria traded 82.588 million shares worth N919.909 million, United Bank for Africa exchanged 41.919 million shares cost N1.088 billion while Mansard Insurance traded 24.644 million shares valued at N146.131 million.