Equities investors gain N78.4bn as market reverses 2-day loss

Negative sentiments was reversed on Wednesday as the local equities market appreciated with All Share Index (ASI) of the Nigerian Stock Exchange (NSE), adding 0.66 per cent or 150.38 points to close at 22,780.30 basis points.

Similarly, the market capitalisation appreciated by 0.66 per cent to record a close record of N11.872 trillion as against the opening of N11.793 trillion, thus investors gained N78.373 billion on Wednesday.

Also, market breadth closed positive as only 19 gainers were recorded against 4 losers, an impressive outlook when compared to the previous day of four gainers against 27 losers.

Specifically, NEM Insurance led the gainers’ chart as it appreciated by ten per cent or 20 kobo to close at N2.20 kobo per share. WAPCO followed closely having gained 9.66 per cent or one naira to close at N11.35 Kobo per share.

Livestocks also advanced by 7.69 per cent to close at 70 Kobo at by the end of the day trading; Transnational Corporation share value appreciated by 7.35 per cent to close at 73 Kobo; while PZ gained 6.25 per cent to close at N4.25 Kobo.

Conversely, Sky Aviation led other three decliners as it lost 8.16 per cent or 16 kobo to close at N1.80 kobo per share. Union Diagnostics followed after depreciating by 6.45 per cent to close at 29 Kobo per share, while Guinness Nigeria and Caverton shed 6.40 per cent and 4.26 per cent, respectively.

Meanwhile, the volume and value of shares traded declined further by 25.61 per cent and 20.32 per cent as 186.22 million units, valued at N1.85 billion were exchanged in 3,446 deals. Zenith Bank stocks was the toast of the market as 30.96 million units were traded, while Guaranty Trust Bank was the most traded stock by value at N486.796 million, respectively.

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