Nigeria: Equities market gains N1.441trn on buying interest rises 

Nigeria’s equities market on Wednesday closed on positive note, appreciating by N1.441 trillion.

The growth performance buoyed by strong buying interest in capitalised and financial service sector stocks, pushing the NGX All Share Index to increase by 2,277.54 basis points to 128,967.08 points from 126689.54 points traded the previous day.  

Also, Market capitalisation of listed equities surged   by 1.79 per cent to N81.584 trillion from N80.143 trillion reported the previous day.

The market was driven by gains in the shares of Nestle Nigeria Plc, FirstHoldco Plc, United Bank for Africa,Stanbic IBTC, Zenith Bank among others.

An analysis of the investment showed that four companies recorded 10 per cent at the close of trading during the day. Eunisell, Nestle Nigeria Plc, Omatek Plc gained 10 per cent each to close at N14.85, N1650.00 and N1.76 per share respectively. NSLTech also gained 10 per cent to close at N1.21 per unit. Triple G followed with a gain of 9.92 per cent to close at N4.32 per share.

On the contrary, NPF Micro Finance Bank and FTNCocoa topped losers’ chart, dropping by 10 per cent to close at N2.43 and N7.02 per share respectively. C&I Leasing trailed with a loss of 9.97 per cent to close at N7.13 per unit, Champion Breweries dropped by 9.96 per cent to close at N12.29 per share, Mcnichols dipped by 9.95 per cent to close at N3.89 per unit.

Volume of trades also went up by 10.384 billion, representing an increase of 807.47 per cent as investors traded 11.670 billion shares valued at N363.412 billion in 36635 deals against 1.286 billion shares worth N32.204 billion exchanged hands the previous day in 39431 deals.

Transactions in the shares of FirstHoldco Plc led market activities with 10.467 billion shares valued at N324.472 billion, United Bank for Africa followed with account of 157.540 million shares worth N7.623 billion, Access Holdings company traded 124.640 million shares cost N3.265 billion, Universal insurance exchanged 124.078 million shares worth N89.987 million while Zenith Bank traded 66.280 million shares cost N5.084 billion.