Equity market gains N286bn

The domestic equity market on Wednesday rebounded, appreciating by N286 billion.

The trading for the day was dominated with bullish activities.

Market capitalisation of listed equities increased by 0.48 per cent to N59.512 trillion from N59.226 trillion reported the previous day.

The NGX All Share Index also appreciated by 472.43 basis points to 98174.99 point from 97702.56 points traded on Tuesday

The good performance recorded during the day was driven primarily by gains in the shares of Seplat Energy, Transacorp, Northern Nigeria Flour Mills, AccessCorp, GTBank, Eterna and 35 other companies.

As result year to date return went up to 31.30 per cent as 41 companies appreciated in price against 21 firms closed in red.

An analysis of the investment showed that Gold Breweries and Thomas Way led gainers table with 9.83 per cent to close at N4.47 and N1.90 per unit respectively, FTNCocoa followed with a gain of 9.50 per cent to close at N1.96 per unit, Deap Capital added 9.43 per cent to close at N1.16 per share. NEM Insurance added 9.30 per cent to close at N9.40 per unit.

On the contrary, SUNU Assurance and Learn Africa topped losers chart, dropping by 9.85 per cent each to close at N4.21 and N2.93 per unit, HMCall trailed with a drop of  9.15 per cent  to close at N5.86 per share, PZ Cusson fell by 8.71 per cent to close at N22.00 while Sterling Bank dipped by 7.16 per cent to close at N4.41 per unit.

Volume of trades declined by 634.08 million, representing 54.85 per cent as investors traded 521.918 million valued at N19.932 billion in 9420 deals against 1.156 billion shares worth N27.363 billion exchanged hands the previous day in 9403 deals.

Transactions in the shares of Tantalizer led market activities with 88.325 million shares valued at N108.279 million, Wapco followed with account of 57.240 million shares cost N421.814 million, AccessCorp traded 41.024 million shares valued at N986.531 million, Cutix traded 37.122 million shares worth N85.366 million.