Investors gain N223.9bn as equities market sustains Tuesday’s gain

Trading on the Nigerian Stock Exchange (NSE) ended positively, on Wednesday, as investors gain N223.93 billion to close the market capitalisation at N18.167 trillion.

The local bourse All Share Index (ASI) rose by 1.25 per cent to close at 34,769 points spurred by hunting activity on in large capitalised stocks.

Specifically, blue-chip stocks such as Airtel Africa, Dangote Cement, WAPCO, Guaranty Trust Bank and Zenith Bank were the toast of investors on Tuesday, hence their share prices appreciated by 1.90 per cent, 2.60 per cent, 3.37 per cent, 1.17 per cent and 1.66 per cent respectively.

Against the foregoing, Month-to-Date and Year-to-Date gains increased to 13.9 per cent and 29.5 per cent, respectively.

equities market sentiment, as measured by market breadth, was positive, as 36 tickers gained, relative to 11 losers, with May and Baker leading the gainers’ list by ten per cent, followed by Eterna Oil with 9.9 per cent appreciation, while Transexpress recorded the largest loss of the day, having declined by 9.4 per cent and ABC Transport also depreciated by 8.6 per cent.

Sectorial Performance was positive as four out of the five indices tracked closed in green; the NSE Banking, NSE Insurance, NSE Consumer Goods and NSE Industrial indices rose by 1.59 per cent, 1.38 per cent, 0.74 per cent and 1.58 per cent, respectively. On the flip side, the NSE Oil/Gas index fell by 0.56 per cent.

Meanwhile, market activity was upbeat as the total volume of trades increased by 19 per cent to 434.92 million units, valued at N6.91 billion, and exchanged in 7,029 deals.

Transnational Corporations was the most traded stock by volume at 84.50 million units while Dangote Cement was the most traded stock by value at N2.16 billion.

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Investors gain N223.9bn as equities market sustains Tuesday’s gain