Stock Market Gains N24bn On Blue-chip Firms

Equity trading on the floor of the Nigerian Stock Exchange, on Wednesday, closed on a positive note with a gain of N24bn to halt the previous day’s loss as the bulls recaptured trading activities.

The Nigerian Stock Exchange All-Share Index appreciated by 0.17 per cent with market breadth closing with 23 gainers as against 16 losers.

The ASI appreciated by 69.01 basis points or 0.17 per cent to close at 40,565.15bps as against 40,396.14bps recorded the previous trading session.

The market capitalisation of equities grew marginally by N24bn from N21.13tn the previous day to N21.16tn as market sentiment returned to positive territory.

Meanwhile, a turnover of 249.55 million shares exchanged in 6,092 deals was recorded in the day’s trading.

The premium subsector was the most active (measured by turnover volume), with 62.87 million shares exchanged by investors in 1,418 deals.

Volume in the subsector was largely driven by activities in the shares of Access Bank Plc and UBA Plc.

The insurance subsector was boosted by the activities in the shares of AXA-Mansard Assurance Plc and Regency Alliance Plc, with a turnover of 40.52 million shares in 339 deals.

Further analysis of the day’s trading showed that in percentage terms NEM Insurance Plc topped the day’s gainers’ table with 9.69 per cent to close at N2.15 per share while BOC Gases Plc followed with 9.52 per cent to close at N11.50 per share.

Japaul Oil Plc added 9.46 per cent to close at 81 kobo per share.

On the other hand, Sovereign Trust Insurance Plc led the losers with a drop of 8.33 per cent to close at 22 kobo per share.

Eterna Oil Plc shed 8.17 per cent to close at N5.28 per share while Deap Capital Plc dropped by eight per cent to close at 23 kobo per share.