Equity Market Gains N214bn On Blue Chip Firms

Equity trading on the floor of the Nigerian Stock Exchange on Wednesday closed on the positive note with a gain of N214bn as the bulls sustained grip on trading activities.

The market performance indices, the NSE ASI appreciated by 1.03 per cent with market breathe closing positive with 23 gainers against 19 losers.

Consequently, the All-Share Index gained 402.14 basis points or 1.03 per cent to close at 39,512.31 as against 39,110.17 recorded the previous day while the market capitalisation of equities appreciated by N214bn to close at N20.66tn from N20.45tn as market sentiment remained on the green zone.

Meanwhile, a turnover of 372.93 million shares exchanged in 5,190 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); with 169.66 million shares exchanged by investors in 2,051 deals.

Volume in the sub-sector was largely driven by activities in the shares of UBA Plc and Dangote Cement Plc.

The insurance sub-sector was boosted by activities in the shares of Lasaco Assurance Plc and AXA-Mansard Insurance Plc followed with a turnover of 44.11 million shares in 264 deals.

BUA Cement Plc, International Breweries Plc and Eterna Oil Plc led the gainers’ table with a gain of 10 per cent each to close at N70.4, N6.49 and N5.61 per share respectively while C and I Leasing Plc followed with a gain of 9.74 per cent to close at N4.93 per share. NEM Insurance Plc added 9.40 per cent to close at N1.63 per share.

On the other hand, Flour Mills Nigeria Plc dropped 5.45 per cent to close at N26 per share. UBA Plc followed with 5.36 per cent to close at N5.3 per share.