Nigerian Stock Exchange equities market sustains gains

The bulls have maintained their grip on the equities market as the trading floor of the Nigerian Stock Exchange (NSE) saw investors gaining 3.54% at the close of Wednesday’s activities.

The Market Capitalization which closed at N13,316 trillion on Tuesday, closed today, Wednesday at N13,787 trillion, appreciating by N471 billion. The All Share Index increased by 975.55 basis points to enter into 28,562.48 basis points from 27,586.93 basis points.

In Wednesday’s trading, investors traded in 7,622.00 deals in comparison to Tuesday’s 5,727.00 deals, where 742 million units of shares worth N9,216 billion were exchanged on Wednesday as against Tuesday’s 446,383 million units of shares worth N5,820 billion.

Market sentiment was very strong and positive as 37 stocks appreciated while only 11 stocks depreciated as against Tuesday’s 26 stocks that recorded gains and 20 that declined.

Again UNITED BANK FOR AFRICA was the most traded stock with 156,012 million units of shares worth N1,402 billion.

FBN HOLDINGS PLC led the gainers by 0.70k or 10.00 percent. UNION DIAGNOSTIC and CLINICAL SERVICES PLC gained 0.02k or 10.00 percent and JULIUS BERGER NIG. PLC gained N1.95k or 9.80 percent.

Conversely, TRIPPLE GEE AND COMPANY PLC led decliners with 0.06k or 9.38 percent loss, UPDC REAL ESTATE INVESTMENT TRUST was next with a 0.40k or 8.99 percent fall, while THOMAS WYATT NIG. PLC lost by 0.03k or 7.89 percent.

Source: Voice of Nigeria