Local equities gain N390bn

The local equities market on Wednesday sustained growth trend, appreciating by N390 billion.

Market capitalisation of listed equities increased by 0.29 per cent to N130.404 trillion from N130.014 trillion reported on Tuesday.

The NGX All Share Index also appreciated by 562.44 basis points to 202585.54 points from 202023.10 points it closed the previous day.

The market breath was negative with 31 decliners against 22 advancers but gains recorded in the shares of Zenith Bank, GTCO Plc, UBA, Seplat Energy among others lifted market performance bringing year to date return to 30.19 per cent.

A review of the investment showed that Universal Insurance led gainers table with 10 per cent to close at N1.21 per unit, Omatek followed with account of 9.78 per cent to close at N2.47 per share, VFD group added 9.71 per cent to close at N11.80 per share, CWG increased 9.64 per cent to close at N21.05 per unit, Livestock feeds added 9.56 per cent to close at N7.45 per unit.

On the contrary UPDCReit topped losers chart, dropping by 10.00 per cent to close at N6.75 per unit, FTGinsurance trailed with a drop of 9.92 per cent to close at N1.18 per unit, DeapCapital declined by 9.85 per cent to to close at N5.40 per share, Chams Plc down by 9.47 per cent to close at N3.06 per unit, Japaul Gold sheds 8.82 per cent to close at N3.10 per unit.

Volume of trades declined by 146.00 million, representing 12.67 per cent as investors traded 1.006 billion shares against 1.152 billion recorded the previous day. Value of transactions went up by 0.71 per cent to settle at N40.566 billion in 52723 deals.

Access Holdings company led market activities with 232.980 million shares valued at N6.060 billion, Fidelity Bank followed with account of 113.081 million shares worth N2.174 billion, Wema Bank traded 103.297 million shares cost N2.687 billion, Zenith Bank exchanged 60.640 million shares valued at N6.466 billion, Chams Plc traded 47.514 million shares valued at N154.551 million