Equity market remains bullish, gains N186bn

Trading activities on the floor of Nigerian Exchange (NGX) sustained growth profile on Wednesday, appreciating by N186 billion.

Market capitalization of listed equities increased by 0.27 per cent to N68.543 trillion from N68.357 trillion reported the previous day.

The NGX All Share Index also appreciated by 296.72 basis points to 109059.33 points from 108762.61 points traded the previous day.

The positive performance recorded during the day was driven by gains in the shares of NNFM, Nigerian Breweries,Oando, Stanbic IBTC ,Zenith Bank and 29 other firms.

As a result year to date return went to 5.96 per cent as 34 companies closed in green against 25 firms took negative direction.

A review of the investment showed that Northern Nigeria Flour Mills and Mcnichols led gainers table with 10 per cent to close at N99.55 and N1.76 per unit respectively, Champion Breweries followed with a gain of 9.91 per cent to close at N6.10 per unit, Caverton Business Solutions added 9.78 per cent to close at N4.04 per share, FTNCocoa increased by 9.65 per cent to N2.50 Kobo per unit.

Conversely, Multiverse topped losers chart, dropping by 9.63 per cent to close at N9.85 per unit, Geregu Power trailed with a drop of 9.09 per cent to N1141.50 per unit,  Veritas Kapital down by 4.76 per cent to close at N1.00 while Transcorps dipped by 4.65 per cent to close at N44.10 per share.

Volume of trades went up by 32.807 million representing 6.58 per cent as investors exchanged 531.287 million shares valued at N19.808 billion in 14870 deals against 498.480 million shares cost N10.781 billion exchanged hands the previous day in 14911 deals.

Transactions in the shares of GTCO Plc led market activities with 53.274 million shares valued at N3.675 billion, Access Holdings company followed with account of 51.902 million shares worth N1.107 billion, Fidelity Bank traded 40.549 million shares cost N834.826 million, Nigerian Breweries exchanged 35.756 million shares worth N1.937 billion, Zenith Bank traded 27.251 million shares valued at N1.320 billion.

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