Equities Market Gains As 18 Stocks Appreciate

The Nigerian capital market closed on Wednesday with investors gaining N1.7bn at the end of eight hours trading.

All-Share Index on Wednesday increased from 48,568.57 basis points to 48,571.75 basis points.

The market capitalisation of equities listed on the NGX rose from N26.183tn to N26.185.

At the end of eight hours trading, eighteen companies recorded gains, while 23 companies lost.

Investors traded 246.7 million shares valued at N2.32bn in 5,033 deals.

The gainers chart was led by Academy and Wema Bank as their share prices increased by 9.92 per cent and 9.88 per cent to N1.33 kobo and N3.67 kobo each;

Cadbury and UPDC’s share prices rose by 9.68 per cent and 9.09 per cent to N8.50 kobo and 0.96 kobo, respectively.

The losers chart was led by Ikeja Hotels and Lickstock as their share prices fell by 9.68 per cent and 9.5 per cent to N1.40 kobo and N1.62 kobo,

Chi Plc and Union Bank’s share prices fell by 9.38 per cent and 6.25 per cent to 58 kobo and N6.00 kobo, respectively.

Cordros Capital research said, “For most of today’s session, the Nigerian equities market traded quietly; however, gains recorded in BUACEMENT (+1.0 per cent) and Guiness (+7.5 per cent) ensured the market closed higher amid profit-taking on some banking names.

“Thus, the All-Share Index increased by 1bp to 48,571.75 points, with the month-to-date and year-to-date returns unchanged at +3.4 per cent and +13.7 per cent, respectively.”

On sector performance, it said, “The Consumer Goods (+0.7 per cent) and Industrial Goods (+0.4 per cent) indices recorded gains, while the banking (-1.5 per cent), insurance (-0.9 per cent), and oil & gas (-0.7 per cent) indices declined.”