Equities investors earn N72bn as market reverses 5th day loss

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3 years ago

Equities trading on Wednesday ended on a positive note as the local bourse reversed fifth-day consecutive negative sessions.

Basically, the All-Share Index (ASI) of the Nigerian Exchange Limited gained 0.28 per cent in the session to stand at 47,287.09 basis points, thus bringing both the month-to-date and year-to-date performance of the All-Share Index to stand at -0.23 per cent and 10.70 per cent respectively.

Investors, therefore, earned N71 billion in the session as the market capitalisation followed suit the direction of the ASI to stand at N25.485 trillion, a 0.28 per cent gain from the N25.414 trillion it stood at the end of the previous trading session.

Market breadth also closed in favour of the bulls, as 30 stocks in the gainers’ chart were pitted against 12 counters in the losers’ chart.

Presco, PharmaDeko, Linkage Assurance, Royal Exchange and UPDC led the top gainers as the best five performing stocks, with Presco taking the lead with a 10.00 per cent increase in its value.

Conversely, Ellah Lakes, May&Baker, Neimeth Pharmaceutical, Niger Insurance and Cutix populated the top five losers chart.

Most sectoral indices closed positively, save for NGX Banking and NGX Industry sectors that lost 0.04 per cent and 0.01 per cent respectively, while NGX Growth and NGX ASEM closed flat.

However, market activity as measured by the volume of trades, waned on Wednesday with daily traded volume standing at 336.305 units, a 55.45 per cent decrease from a volume of 754.933 million units traded in the previous session.

Conversely, market turnover improved in the session as it went up by 61.09 per cent to stand at N5.860 billion as against a value of N3.638 billion recorded in the previous trading session.

FBN Holdings was the toast of Investors as it made the most traded stock, flanked in the trading session by Guaranty Trust Holding Company (GTCO), United Capital, Zenith Bank and Japaul Gold to complete the list of the five most traded stocks in terms of volume of trades.

With regards to the value of traded stocks, GTCO took the lead of the top five performers as well, followed by FBN Holding, Nestle Nigeria, Zenith Bank and United Bank.

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