Investors gain N150.3bn as equities market reverses bears

Trading at the Nigerian Stock Exchange, on Wednesday, closed positive to reverse previous day’s loses as the All Share Index (ASI) gained 0.23 per cent to stand at 41,147.72 basis points.

This brings the year-to-date return to 2.18 per cent, pegging the market capitalisation at N21.525 trillion, after adding N150.3 billion.

Market breadth followed suit to close strongly in favour of the bulls, with 55 advancers in the gainer’s chart as opposed 16 losers.

On the performance chart, Mutual Benefit, Niger Insurance, NNFlourMills, Sovereign Insurance, Deap Capitals and Royal Exchange were the best-performing stocks, each gaining per cent to their portfolio, whereas Mansard Insurance, Suni Assurance, Japaul Gold, Afromedia and Omatek led the chart from the rear having lost 10 per cent, 10 per cent, 9.38 per cent, 9.09 per cent and 8.70 per cent respectively.

Of the five indices tracked, four closed in positive territory save for the NSE Banking index which fell by 0.23 per cent. The NSE Insurance, NSE Consumer Goods, NSE Oil/Gas and NSE Industrial indices increased by 2.52 per cent, 0.21 per cent, 0.45 per cent and 0.50 per cent respectively.

Market activity as measured by the volume of trades gained steam, as daily traded volumes recorded 649 million as against 525 million recorded in the previous trading session, amounting to a 23.74 per cent increase.

Value of trades on the other hand declined by 13.59 per cent to stand at N4.612 billion from a volume of N5.337 billion recorded in the previous trading session.

Mutual Benefits, Transnational Corporation, Sterling Bank, WAPCO and UAC Properties were the top five performers in terms of volume of units traded, while WAPCO, Guaranty Trust Bank, Dangote Cement, Flour Mills of Nigeria and Zenith Bank made up the top five performers in terms of the value of trade.

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Investors gain N150.3bn as equities market reverses bears

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Investors gain N150.3bn as equities market reverses bears

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