Equities market extends positive trend, gains N33bn

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The equities market of the Nigeran Exchange Limited (NGX) ended the strong bullish run by N 33 billion on Wednesday, following bargain-hunting on Nestle Nigeria Plc and 11 others.

The All Share Index (ASI) rose by 59.80 basis points or 0.12 per cent to close at 48,426.49 basis points. Accordingly, investors gained N33 billion in value as market capitalisation went up to N26.377 trillion.

However, market sentiment, as measured by market breadth was negative as 12 stocks gained, relative to 17 decliners. 

Thomas Wyatt Nigeria recorded the highest price gain of 10.00 per cent to close at 44 kobo per share. Japaul Gold & Ventures followed with a gain of 7.41 per cent to close at 29 kobo, while Honeywell Flour Mills rose by 6.14 per cent to close at N2.42 per share.

May & Baker Nigeria went up by 5.26 per cent to close at N4.00, while FCMB Group appreciated by 4.62 per cent to close at N3.40 per share.

On the other hand, SCOA Nigeria led the losers’ chart by 9.38 per cent to close at 87 kobo per share. Unity Bank followed with a decline of 7.02 per cent to close at 53 kobo, while Cornerstone Insurance depreciated by 6.25 per cent to close at 45 kobo per share.

Courteville Business Solutions declined by 6.00 per cent to close at 47 kobo, while Chams depreciated by 4.35 per cent to close at 22 kobo per share.

Meanwhile, the total volume of trades decreased by 20.82 per cent to 146.206 million units, valued at N3.357 billion, and exchanged in 2,810 deals.

Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 59.272 million shares valued at N639.974 million. Geregu Power followed with 14.276 million shares worth N1.535 billion, while Zenith Bank traded 12.510 million shares valued at N275.686 million.

Sterling Bank traded 7.025 million shares valued at N9.688 million, while United Bank for Africa (UBA) transacted 6.916 million shares worth N50.456 million.

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