Equity market remains bullish, gains N224bn
The Nigerian equities market sustained positive momentum Wednesday, as the Nigerian Exchange (NGX)’s All Share Index gained 0.32 per cent to close at 112781.73 points from 112427.48 points reported yesterday.
The growth trend was driven by renewed interest in some medium and large stocks which took upward direction.
The upward movement added N224 billion to the market capitalisation which now stands at N71.118 trillion against N70.894 trillion traded on Tuesday.
The market breath was positive with 32 gainers outpacing 21 decliners.
As a result, year to date return rose to 9.58 per at the end of trading during the day.
An analysis of the investment showed that Oando Plc led gainers table with 10 per cent to close at N52.70 per unit, UHOMerit followed with a gain of 9.96 per cent to close at N50.25 per unit, Royal Express up by 8.64 per cent to close at N0.88 per unit, Legend International added 7.27 per cent to close at N5.90 per unit, Lasaco Insurance increased by 6.67 per cent to close at N3.20 per share.
On the contrary, NCR topped losers’ chart, dropping by 9.87 per cent to close at N5.92 per share, ABC Transport trailed with a loss of 9.83 per cent to close at N2.66 per share, Meryer Paint down by 9.63 per cent to close at N8.45 per unit, Academy press dipped by 5.58 per cent to close at N4.53 per share, Livestock Feeds dropped by 6.77 per cent to close at N8.95 per unit.
The volume of trades declined by 11.108 million representing N1.78 per cent as investors traded 611.527 million in N16.680 billion in 13682 deals against 622.635 million shares cost N16.173 billion exchanged hands the previous day in 17044 deals
Transactions in the shares of Fidelity Bank led market activities with 93.467 million shares valued at N1.776 billion, GTCO Plc followed with account of 87.203 million shares cost N595.228 million, Royal Express traded 73.078 million shares worth N64.928 million, United Bank for Africa exchanged 57.113 million shares cost N1.979 billion while Access Holdings company sold a total of 38.759 million shares valued at N
The trading result also showed that GTCO Plc which opened the day at N68.00 closed at N69.50 with total value of N5.952 billion while UBA opened at trading price of N34.50 to close at N34.70 with a value of N1.979 billion.
