Nigeria’s stock market gains N600bn, as GTCO, Zenith others lead rally
The Nigeria’s domestic equity market on Wednesday sustained growth trend, appreciating by N600 billion bears continue to dominate trading during the day.
Market capitalisation of listed equities appreciated by 0.46 per cent to N129.809 trillion from N855.414 trillion it closed the previous day.
The NGX All Share Index also increased by 415.75 basis points to 201703.55 points from 201287.78 points reported on Tuesday.
The market rally was sustained by gains recorded in the shares of GTCO Plc, Zenith Bank, AccessCorp, PZ and among others.
The market breath was negative with 22 advancers and 41 decliners, bringing year to date return to 29.62 per cent
The trading result showed that UPDReit led gainers table with 10 per cent to close at N7.70 per unit, International General Insurance followed with a gain of 9.91 per cent to close at N3.55 per unit, RTBriscoe gained 8.81 per cent to close at N10.50 per share, Mutual Benefits added 7.58 per cent to close at N4.40 per unit, Zenith Bank up by 7.52 per cent to close at N103.00 per share.
On the contrary, Omatek and Nestle Nigeria Plc topped losers chart, dropping by 10 per cent each to close at N1.98 and N3055.50 respectively.
FTNCocoa trailed with a loss of 9.97 per cent to close at N5.33 per share, Chams Plc dipped by 9.79 per cent to close at N3.96 per unit, May and Baker declined by 9.74 per cent to close at N34.30 per share, Sovereign Trust Insurance fell by 9.22 per cent to close at N1.97 per unit.
The volume of trades declined by 39.936 million, representing 4.67 per cent as investors traded 815.478 million against 855.414 million recorded the previous day.
The Value of transactions surged by 23.15 per cent to settle at N33.289 billion in 52641 deals.
Trading on the shares of Wema Bank led market activities with 77.753 million shares cost N2.026 billion, GTCO Plc followed with account of 73.660 million shares valued at N8.967 billion, Access Holdings Company exchanged 62.885 million shares worth N1.635 billion, FirstHoldco exchanged 59.431 million shares valued at N2.972 billion while Zenith Bank sold 49.728 million shares valued at N5.152 billion.
