Investors make more N20b on stocks

Trading activities on the floor of the Nigeria Stock Exchange remained upswing as market capitalization rose to N20 billion.

The major market performance measures, the NSE All-Share Index and market capitalisation, rose by 0.15 percent as market sentiments extended gaining streaks.

The sustained rally, according to market watchers, was driven by bargain hunting activities on large and mid-cap stocks.

Consequently, the All-Share Index rose by 38.37 basis points or 0.15 percent to close at 25,330.10 index points as against 25,291.73 recorded on Tuesday.

Market capitalisation of equities appreciated by N20 billion or 0.15 percent to close higher at N13.21 trillion from N13.19 trillion as market sentiment remained on the green territory.

Total turnover declined marginally to 180.73 million shares valued at N1.35 billion in 3,411 deals.

Fidelity Bank Plc was the most active stock with a turnover of 26.56 million shares. United Bank for Africa followed with 19.47 million shares while Access Bank placed third with 18.95 million shares.

The market sentiment measured by market breath remained positive as 24 stocks appreciated relative to 8 losers.

FTN Cocoa Processors Plc led the gainers, in percentage terms, with a gain of 10.00 percent UAC Nigeria followed with 6.48 percent while Stanbic rose by 4.49 percent.

Africa Prudential Plc led the decliners table, dropping by 6.97 percent. Custodian Life Assurance Ltd trailed with a drop of 2.04 United Bank of Africa declined by 1.53 percent.



Source: Voice of Nigeria