Stock Investors Gain N375bn As Market Cap Hits N20.28trn

Transactions in the equities market, on Wednesday, sustained bullish rally as the Nigerian Stock Market All-Share Index appreciated by 2.40 per cent.

The market breadth closed positive with 26 gainers against seven losers.

The ASI grew by 910.13 basis points from 37,893.61 index points the previous day to 38.803.74 while the market capitalisation of equities appreciated by N475bn to close at N20.28tn from N19.81tn.

On the activity chart, the premium subsector dominated in volume terms with 1.13 billion shares exchanged in 1,728 deals. The subsector was enhanced by the activities in the shares of Zenith Bank Plc and Access Bank Plc.

The insurance subsector was boosted by the activities on the shares of Veritas Kapital Plc and AXA-Mansard Plc followed with 155.96m units traded in 287 deals.

In all, investors exchanged a total of 1.497 million shares in 4,319 deals.

Further analysis of the day’s trading showed that ABC Transport Nigeria Plc and Japaul Gold Plc led the gainers chart with 10 per cent each to close at 33 kobo and 44 kobo per share respectively.

Airtel Africa Plc followed with 9.99 per cent to close at N851.80 per share while Eterna Plc rose by 9.98 per cent to close at N4.96 per share.

On the other hand, FCMB Plc led the losers’ chart with a drop of 3.97 per cent to close at N2.90 per share.

PZ Cussons Plc followed with a loss of 3.64 per cent to close at N5.30 per share while Lasaco Assurance Plc dropped by 3.13 per cent to close at 31 kobo per share.