Equities investors further gain N344bn on 3.02% bullish trade

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5 years ago

The Nigerian equities market continued its bullish trend as investors gained N343.96 billion on Wednesday, recording a fifth-day consecutive increase, as the market capitalisation increased by 3.02 per cent to record a close mark of N11.748 trillion.

Tribune Online reports that the All-Share Index gained by 3.02 per cent to 22,539.94 points, the biggest gain since increasing by 3.5 per cent on January 8, 2020. Accordingly, Month-to-Date gain increased to 5.8 per cent as Year-to-Date losses moderated to -16.0 per cent.

Sectoral performance was positive, as all sector indices recorded gains, save for the Insurance (-0.5%) index that declined. The Banking (+4.5%) index recorded the largest gain, followed by the Industrial Goods (+3.0%), Consumer Goods (+2.5%) and Oil and Gas (+1.1%) indices.

Market breadth also closed positive as 28 gainers were recorded against 13 losers, an unimproved performance when compared with the previous outlook of 29 gainers against 12 losers.

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Champion Breweries, Dangote Cement and Neimeth Pharmaceutical led the gainers’ chart having gained ten per cent to their stock values to close at N0.88 Kobo, N133.10 Kobo and N0.55 Kobo respectively.

Oando also gained 26 Kobo, having appreciated by 9.85 per cent to close at N2.90 Kobo per share by the end of the day trading; Nigerian Breweries’ share value appreciated by 9.84 per cent to close at N26.80 Kobo; while Zenith Bank added N1.40 kobo or 9.66 per cent to close at N15.90 Kobo per share.

On the other hand, ARBICO led the decliner’s chart having lost 28 Kobo or 9.82 per cent from its share value to close at N9.82 Kobo per share, Wema Bank followed closed closely having depreciated by N0.06 Kobo per cent or 9.68 per cent to close at 56 Kobo per share.

The total volume of trades decreased by 41.5 per cent to 326.44 million units, valued at N3.34 billion and exchanged in 5,166 deals. FBN Holdings was the most traded stock by volume at 74.76 million units while Zenith Bank was the most traded stock by value at NGN1.20 billion.