Stock: 19 Firms Gain As Market Appreciates By N79bn

Transactions on the Nigerian Stock Exchange on Wednesday returned to positive route, reversing prior two days’ negative sentiment.

The key market performance measures, the NSE All Share Index and market capitalisation, rose by 0.66 per cent to close the trading session positive as market sentiments returned to a gaining streak following gains recorded by NEM Insurance Plc and 18 other firms.

Consequently, the All-Share Index gained 289.63 basis points or 0.66 per cent to close at 22,780.30 as against 22,629.92 recorded the previous day while the market capitalisation of equities appreciated by N79bn or 0.66 per cent to close at N11.872tn from N11.793tn as market sentiment returned on the green zone.

Meanwhile, a turnover of 186.22m shares exchanged in 3,446 deals was recorded in the day’s trading.

Premium subsector was the most active (measured by turnover volume); with 109.36 million shares exchanged by investors in 1,548 deals.

Volume in the subsector was largely driven by activities in the shares of Zenith Bank Plc and FBNH Plc.

Banking subsector boosted by activities in the shares of GTBank Plc and Fidelity Bank Plc followed with a turnover of 186.22 million shares in 3,446 deals.

The number of gainers at the close of trading session was 19 while decliners also closed at four.

NEM Insurance Plc led the gainers’ table with a gain of 10 per cent to close at N2.20 per share while Wapco Nigerian Plc followed with a gain of 9.66 per cent to close at N11.35 per share. Livestock Feeds Plc added 7.69 per cent to close at 70 kobo per share.

On the other hand, Skyway Aviation Company Plc led the price losers’ table, dropping 8.16 per cent to close at N1.80 per share.

Union Dicon Plc followed with 6.45 per cent to close at 29 kobo per share while Guinness Nigerian Plc trailed with a loss of 6.40 per cent to close at N19.00 per share.