Equities trading reverses 3-day loss by 0.80%

Trading on the Nigerian Stock Exchange (NSE) took a positive turn on Wednesday as All Share Index (ASI) record 0.80 per cent appreciation.

The major market indicator closed at 29,812.91 basis points as against 29,575.24 recorded on Tuesday, having increased 237.67, while market capitalisation added N81.6 billion to close at N10.2 trillion.

Market breadth closed positive as 24 gainers were recorded against 18 losers at the end of trading, a better performance when compared with Tuesday outlook of 15 gainers versus 24 losers

Further analysis showed that Forte Oil Plc led the gainers chart, measured by value, as it increased its share price to N194.03 kobo, having gained N3.03 kobo to N191 it traded.

Julius Berger Nigeria Plc also gained N2.42 kobo at the end of stock trading session to close at N50.93 kobo per share as against N48.51 kobo it traded, while 7up Bottling Company Plc closed at N142 per share after adding two naira to each unit.

Dangote Cement Plc appreciated it’s stock value to N194 having gained N1.89 kobo to each, just as Guaranty Trust Bank Plc closed trade at N23.25 kobo per share having added 93 kobo during the course of trading on Wednesday.

On the flip side, Ashaka Cements Plc took the lead as it lost N1.05 kobo from each share it traded to close at N19.95 kobo per share.

Champion Breweries Plc also depreciated in share value by 23 kobo on each to close at N4.46 kobo, while UACN Property Development Company Limited’s stocks shed 22 kobo from each unit to close at N4.28 kobo per share.

Market turnover closes positive as volume moved up by 19.78 per cent against 31.97 per cent decline recorded on Tuesday.

Transnational Corporation of Nigeria Plc was active in boosting turnover, measured by volume as it staked 52.97 million shares, followed by Access Bank Plc that traded 45.58 million shares.