Equities market gains N27.8bn to extend bullish trend

The equities market of the Nigerian Exchange Limited (NGX) on Wednesday sustained the positive trend recorded on Tuesday with an overall market capitalisation gain of N27.8 billion.

At end of yesterday trading activities at the local bourse, the market capitalisation appreciated by N27.8 billion to close at N25.389trillion, compared to N25.362 trillion recorded the previous day.

Also, the NGX All-Share Index (ASI) improved by 44.43basis points or 0.09per cent to close at 47,109.25 basis points from 47,064.82basis points it Closed on Tuesday

Sector performances of the NGX were negative yesterday with the NGX Industrial dropping by 0.34per cent, NGX Banking decline by 0.20 per cent, NGX Consumer Goods depreciated by 0.09 per cent and NGX Oil and Gas down by 0.04 per cent.

Similarly, the stock market breadth index was negative with 19 gainers against 29 losers.

The breakdown of yesterday trading activities showed that Learn Africa led the gainers’ chart with a 9.9 per cent or N0.18 increase to close at N1.99, while SCOA Plc added 9.55 per cent or N0.17 to close yesterday at N1.95. RT. Briscoe added 8.70per cent or N0.04 to close at N0.50 as Vertaskap increased by 8.70 per cent or N0.02 to close at N0.25. In addition, Japaul Gold rose by 8.57 per cent or N0.03 to close at N0.38 per share.

On the other hand, UPDC depreciated by 6.36 per cent or N0.07 to close at N1.03 On the loser chart, while Regal Insurance dropped by 5.13 per cent or N0.02 to close at N0.37 per share.

The likes of CI leasing dropped by 4.76 per cent or N0.18 to close at N3.50 while Prestige down by 4.44 per cent or N0.02 to close at N0.43 per share. Chams Plc was among the top losers yesterday after shedding 4.35 per cent or N0.01 to close N0.22 per share.

In terms of activity levels, total volume and value increased by 16per cent and 117per cent respectively, as investors exchanged about 318 million units of shares worth N8.26billion. Access Bank was the most actively traded stock with about a 47million units of shares worth about N496million.