Investors gain N7.5bn , as stock market improves by 0.08%

Trading on the Nigerian Stock Exchange (NSE) recovered from three-day losing streaks as key Indices of the equities segment gained 0.08 per cent on Wednesday.

Specifically, All Share Index (ASI) grew by 21.87 points to settle at 27,120.39 basis points. Investors gained N7.5 billion in contrast to N163.6 billion lost on Tuesday as market capitalization appreciated to N9.315 trillion.

The performance of the market was primarily due to improved investor sentiments tracked by the market breadth that closed flat with 17 gainers against 17 losers.

Unilever Nigeria Plc topped the days’ price gainers with a growth of N2.11 to close at N48.01 per share, Nigerian Breweries Plc and Betagla Plc followed, as they improved by 50 kobo each to close at N146 and N31.50 per share each.

Etranzact added 47 kobo to close at N5.12 per share, and Dangote Sugar completed the top five gainers list with an appreciation of 28 kobo to close at N6.50 per share.

On the flip side, Forte Oil Plc led the day’s declining stocks having shed N3.80 to close at N123.50 per share, Nestle Nigeria Plc fell by N2.05 to close at N797.95 per share, Julius Berger Plc dropped by N2 to close at N38 per share, UACN Plc declined of 97 kobo to close at N18.43 per share, and Capital Hotel Plc closed the day at N3.50 per share after recording a depreciation of 18 kobo.

Market activity as measured by Volume and Value traded in 2,396 deals settled at 159.99 million units and N1.74 billion respectively compared to 113.5 million units and N1.2 billion respectively, traded on Tuesday.

The three most traded stocks were led by FBN Holdings Plc that sold 58.8 million shares worth N161.4 million, Unilever Plc followed with the sale of 14.3 million shares valued at N685.7 million while Transcorp Hotels Plc sold 11.6 million shares costing N11.6 million.