Equities market treads northward as investors gain N8.6bn

The Nigerian equities market bullish run extended its stance into another trading week as All-Share Index recorded 0.0 per cent gain at the close of activities on Wednesday to settle at 25,221.29bps moderating year to date return at – 6.04 per cent.

Investors gain N8.59 billion as the market’s capitalisation closed at N13.144 trillion as against the opening of N13.136 trillion.

Analyst attributde the extended positive tread to Portfolio Re-balancing by fund Managers.

”There has been a flooding of a strong buying signal in the market week on week and been the last trading week of the month,” APT Securities said.

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Similarly, market breadth was positive as the bull continued to overweigh the bear with 33 counters against 10 decliners.

Nigerian Breweries topped the gainers’ chart having advanced by ten per cent or N3.95 kobo to close at N43.45 Kobo per share.

Also, Stanbic IBTC gained 9.98 per cent to its share value to close at N35.80 kobo per unit; May and Baker gained 28 kobo to close at N3.09 kobo per share, Glaxo Smithkline closed at N7.85 kobo per share after gaining 9.79 per cent, while Access Bank shares advanced by 9.70 per cent at a closing price of N7.35 kobo per share.

On the other hand, Ardova led the losers’ chart trailed by Regal Insurance, Afromedia, Transnational Corporation and Wapic Insurance as their share value depreciated by 10.00, 8.70, 7.14, 6.49 and 6.06 percentile respectively.

The volume of trades recorded a total of 582 million shares, on Wednesday, a 124.06 per cent incline from 259 million shares traded in the previous session.

Value followed suit to close upbeat by 94.04 per cent from the previous session of N2.88 billion to N5.59 billion.

FBN Holdings, Zenith Bank, Guaranty Trust Bank, United Bank for Africa and Transnational Corporation ended the trading day as top performers in terms of volume while Guaranty Trust Bank, Zenith Bank, FBN Holdings, MTN Nigeria and WAPCO made up the top five performers in terms of the value of units traded.

NIGERIAN TRIBUNE

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