By Amaka Ifeakandu
Lagos
Trading activities on the floor of Nigerian Stock Exchange (NSE), yesterday sustained growth profile, extending gain of N517 billion.
Market Capitalisation of listed equities improved by 3.6 per cent to N24.880 trillion. from N14.363 trillion while the NSE All Share Index appreciated by 1453.14 basis points to 41816.11 points from 40362.97 reported on Tiesday. Trading activities showed that volume of transactions soars higher, as investors traded 1.088 billion shares worth N13.296 billion in 8025 deals against 770.886 million shares cost N7.893 billion in 7395 deals.
Capital market said that improving economic fundamentals had so far reflected in the positive macro economic data.
They explained that World Bank projection that Nigeria economy will grow by 2.5 per cent this year encourage investment in the equity market. They explained that the expectations that the Nigeria GDP Will grow by 2.8 per cent come 2019 and 2020 also push investors to play in the equity market
An analysis of the investment showed that Dangote Cement led gainers table for the day, growing by N9.50 kobo to close at N247.00, Nigerian Breweries followed with a gain of N6.00 to close at N146.00, Conoil gained N3.48 kobo to close at N37.51 kobo, International Breweries appreciated by N3.01 kobo to close at N60.00, Beta Glass added N2.56 kobo to close at N53.87 kobo.
Guinness Nigeria Plc topped losers chart on Wednesday, shedding N1.80 kobo to close at N100.20 kobo, UAC Property trailed with loss of N0.03 kobo to close at N3.00, Fidelity Bank down by N0.02 kobo while John Holt and Resort Saving and Loans maintain stability to close at N0.50 kobo each
Further analysis indicated that Transnational Corporation Of Nigeria recorded the highest volume of activities trading 184.726 million shares worth N365.270 million, Diamond Bank followed with account of 136.614 shares valued at N314.531 million, Access Bank Plc traded 121.955 million shares cost N1.441 billion, Fidelity Bank exchanged 86.026 million shares worth N259.949 million, FBNHoldings traded 72.472 million shares worth N770.415 million.
