Investors Gain N426bn as Equity Market Sustains Bullish Trend
Equity Market Sustains Bullish Trend as Investors Gain N426bn
Transactions on the Nigerian Exchange Limited further extended positive sentiment into Wednesday’s trading session as market capitalisation appreciated by N426 billion.
The All-Share Index rose by 759.39 basis points or 1.41 per cent to close at 54,555.25 from 53,795.86 recorded on Tuesday.
Further analysis of the day’s trading showed that the market breadth closed positive as 41 stocks appreciated in contrast to nine stocks that declined in value.
Champion Breweries led the gainers’ chart with 10 per cent to close at N2.75 per share, while NEM Insurance trailed with 9.96 per cent to end trading at N4.40. Japaul Oil & Maritime, Royal Exchange and Academy Press also appreciated by 9.92 per cent, 9.90 per cent and 9.86 per cent respectively.
Conversely, Learn Africa topped the losers’ chart by 9.71 per cent to close at N2.06 per share. It was followed by FTN Cocoa Processors with 8.33 per cent to close at 44kobo per share. PZ Cussons Nigeria and Red Star Express also dipped by 7.41 per cent and 7.14 per cent respectively.
NGX data showed a total of 442.46 million shares valued at N6.41 billion were exchanged by investors in 6,404 deals. This was higher than the 181.53 million shares worth N4.56 billion traded in 4,383 deals on Tuesday.
Financial services industry (measured by volume) led the activity chart with 264.14 million shares traded in 2,977 deals, valued at N3.14 billion. The conglomerate industry followed with 43.93 million shares worth N142.34 million in 353 deals.
