Equity market gains N259bn
Transactions on the floor of Nigerian Exchange on Wednesday closed northward, appreciating by N259 billion as bulls continue to dominate the market.
Market capitalization of listed equities appreciated by 0.43 per cent to N60.908 trillion from N60.649 trillion reported the previous day
The NGX All Share Index also increased by 426.52 basis points to 100477.46 points from 100050.94 points recorded the previous day.
The positive performance recorded during the day was driven by advances in the shares of AccessCorp, Aradel Plc, ETI, Eterna Plc, GTCO Plc, MRS, Zenith Bank, United Capital among others.
As a result, year to date return went up to 34.88 per cent as 42 companies closed in green against 18 firms that closed in red.
A review of the investment showed that MRS led gainers table during the day with 9.99 per cent to close at N9.99 per unit, Learn Africa followed with a gain of 9.97 per cent to close at N3.53 per unit, International General Insurance gained 9.77 per cent to close at N1.46 per unit, Wapic Insurance up by 9.74 per cent to close at N1.69 per share, Livestock added 9.73 per cent to close at N3.72 per unit.
On the contrary, Afriprudential topped losers chart dropping by 10 per cent to close at N14.40 per share, JohnHolt trailed with a drop of 9.96 per cent to close at N6.51 per unit, Guinea Insurance fell by 8.33 per cent to close at N0.66 per unit, Deap Capital declined by 5.26 per cent to close at N1.08 per share, Conhall Plc down by 4.17 per cent to close at N2.30 per unit.
Volume of shares declined by 88.349 million, representing 18.48 per cent as investors traded 389.701 million shares valued at N9.199 billion in 9573 deals against 478.080 million shares worth N22.512 billion exchanged hands the previous day in 9578 deals.
Trading activities during the day showed that Sterling Bank led market activities with 43.558 million shares valued at N216.662 million, United Bank for Africa followed with account of 26.218 million shares cost N874.917 million, Fidelity Bank traded 25.647 million shares worth N398.348 million, Universal insurance traded 18.462 million shares valued at N6.789 million AIICO Plc exchanged 16.229 million shares valued at N21.562 million.
