Equites Market continues trend, opens month with 0.8% gain

The positive growth in Nigeria’s equities market has extended to the fifth consecutive trading day as overall market indicators improved 0.8 per cent on Wednesday. The All share index appreciated 221.7 points and settled at N29,498.31, while market capitalisation improved N76.8 million to close at N10.197 trillion.

This is compared to a growth of 0.73 percent recorded in previous session, when lead indicators, i.e. All Share Index and Market Capitalisation closed at 29,276.99 points and N10.121 trillion respectively.

The day’s performance further increased the Month-to-Date and Year-to-Date gains to 14.46 percent and 9.74 percent respectively.

Market breadth remained positive, with 31 gainers versus 19 losers.

UAC-Prop led the gainers with 9.82 percent increase in share price that closed at N2.46. It was followed by Ada Mansard that grew 8.17 per cent to close at N2.25 per share and Law Union which added 7.69 per cent to close at 98 kobo per share.

Champion Breweries and Custodyins likewise appreciated 6.51 per cent and 5.34 per cent each to close at N2.29 and 3.55 per share.

On the other hand, Guaranty topped the losers chart with a loss of 5 percent to close at N34.01 per share. NEM and Seplat also dropped 5 percent each to close at 95 kobo and N351.99 per share respectively. 7up and Panda came fourth and fifth on the losers chart shedding 4.99 and 4.95 percent each to close at N94.77 and N8.45 per share.

FBN Holdings topped trading, by volume, with 61.2 million shares valued at N318.9 million, followed by Diamond Bank with 41.9 million shares worth N40.4 million, while Fidelity Bank traded 38.8 million shares valued at N40.7 million.

UBA also traded 35 million shares worth N264.8 million, and Zenith Bank traded 25.6 million shares valued at N506.3 million.

The total volume traded in 4905 deals however decreased to 343.2 million shares from 832.52 million shares traded in 6259 deals on Tuesday, while value traded dropped to N3.34 billion from N7.59 billion recorded in previous session.