Equity Market Sustains Bullish Trend with N779bn Gains
Equity investors gained N779bn on the Nigerian Exchange Limited on Wednesday as the market capitalisation rose to N67.3tn from N66.5tn recorded in the previous trading session, nearing the N70tn mark.
The All-Share Index appreciated by 1.17 per cent to close at 107,822.52 points.
VFD Group led the gainers’ chart with a 10 per cent increase to close at N52.80 per share. It was followed by Ikeja Hotel, which also gained 10 per cent to close at N14.85 per share, and Transcorp Hotels, which rose by 9.99 per cent to end at N126.10 per share.
Other top gainers included Honeywell Flour Mill, which appreciated by 9.99 per cent to close at N12.66 per share, and Eterna, which gained 9.93 per cent to close at N48.70 per share. Ellah Lakes also recorded a 9.92 per cent increase to close at N3.99 per share.
On the other hand, Computer Warehouse Group led the losers’ table with an 8.95 per cent decline, closing at N8.65 per share. It was followed by Regency Alliance Insurance, which fell by 7.89 per cent to close at N0.70 per share, and Lasaco Assurance, which dropped by 7.25 per cent to end at N3.20 per share.
Other notable losers were Royal Exchange, declining by 7.22 per cent to close at N0.90 per share; SCOA Nigeria, which fell by 6.54 per cent to N3.43 per share; and FTN Cocoa Processors, which decreased by 4.76 per cent to close at N1.80 per share.
A total of 462.14 million shares valued at N10.23bn were traded in 15,629 deals at the end of the trading session.
Other remarkable indices that performed were the Top 30 Index, which rose by 1.22 per cent, with a one-week gain of 2.36 per cent and a year-to-date gain of 4.91 per cent, and the Industrial Index, which appreciated by 2.11 per cent, recording a one-week gain of 5.5 per cent but a year-to-date decline of 3.46 per cent.
The Premium Index grew by 1.46 per cent, with a one-week gain of 3.85 per cent and a year-to-date rise of 5.39 per cent. Similarly, the Consumer Goods Index gained 1.44 per cent, reflecting a one-week increase of 1.31 per cent and a year-to-date gain of 4.89 per cent.
The Main Board Index rose by 1.02 per cent, achieving a one-week gain of 1.62 per cent and a year-to-date growth of 4.41 per cent, while the Pension Index advanced by 0.86 per cent, with a one-week gain of 2.02 per cent and a year-to-date increase of 9.69 per cent.
The Nigerian Exchange sustained its bullish momentum at the close of trading on Tuesday, with investors gaining N426bn as market capitalisation rose to N66.5tn.
