Bulls return as equity market gains N128bn

Trading activities on the floor of Nigerian Stock Exchange Wednesday recorded bullish run, appreciating by N128 billion.

Specifically, market capitalisation of listed equities increased by 0.63 per cent to N20.369 trillion from N20.241 trillion reported the previous day.

The NSE All Share Index also appreciated by 244.40 basis points to 38931.25 points from 38686.85 traded on Tuesday.

Investors exchanged 368.216 million shares valued at N4.909 billion in 4437 deals against 489.982 million shares worth N6.650 billion in 4616 deals.

An analysis of the transactions for the day showed that Morison industries led gainers table during the day, gaining 9.72 per cent or N0.07 kobo to close at N0.79 kobo, Champion Breweries followed with a gain of 8.91 per cent or N0.18 kobo to close at N2.20 kobo, Neimeth Pharmaceuticals gained 8.85 per cent or N0.17 kobo to close at N2.09 kobo, Mutual Benefits added 7.69 per cent or N0.03 kobo to close at N0.43 kobo, Nahco gained 6.64 per cent or N0.14 kobo to close at N2.25 kobo.

On the Contrary, CHI Plc recorded the highest loss during the day, declining by 10.00 per cent or N0.03 kobo to close at N0.27 kobo, Eterna Plc trailed with a loss of 9.94 per cent or N0.51 kobo to close at N4.62 kobo, Conoil Plc fell by 9.79 per cent or N1.85 kobo to close at N17.05 kobo, Northern Nigeria Flour Mills declined by 9.65 per cent or N0.55 kobo to close at N5.15 kobo while Livestock Feed depreciated by 9.57 per cent or N0.18 kobo to close at N1.70 kobo.

Further analysis of the investment showed that United Bank for Africa was the most active stock during the day, exchanging 74.837 million shares valued at N523.356 million, FBNHoldimgs followed with account of 65.359 million shares worth N467.822 million, Guaranty Trust Bank traded 34.341 million shares cost N1.064 billion, Sovereign Trust Insurance exchanged 34.218 million shares cost N9.848 million while Japaul Gold traded 15.530 million shares valued at N7.148 million.

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