Equities market closes green by 1.03 per cent

The local equities market further sustains its bullish run into the mid-week as All Share Index (ASI) extended gaining streak by 1.03 per cent at the close of trading on Wednesday to settle at 24,452.23 basis points, leaving the year to date return at -8.90 per cent.

Equities investors on the stable of the Nigerian Stock Exchange (NSE) gain N129.96 billion, as the market capitalisation also closed positive having appreciated by 1.03 per cent to close the day at N12.743 trillion.

With the positive sentiments across the board, market breadth was impressive as the bull overweighed the bear with 36 gainers against five decliners, just as all sectoral indices closed positive leaving NSEASEM flat.

On the performance chart, Redstar Express led the other 35 gainers, followed by Jaiz Bank, LASACO Insurance, WAPIC Insurance and Transnational Corporation. From the rear, Unity Bank took the lead, closely followed by Union Diagnostics, WAPCO, Wema Bank and Access bank.

The local bourse recorded a hike in the volume of trades as a total of 436 million shares were traded, signifying a 34 per cent improvement from 326 million shares traded in the previous session. Value followed suit to close upbeat by 40.55 per cent from the previous session of N3.85 billion to N5.41 billion.

Zenith Bank, Access Bank, Guinness Nigeria, United Bank for Africa and Guaranty Trust Bank ended the trading day as top performers in terms of volume while Zenith Bank, Dangote Cement, Guaranty Trust Bank, Guinness Nigeria and Access Bank made up the top five performers in terms of the value of units traded.

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