Stock investors gain N142bn amid reduced trading activity

Equity investors gained N141.63bn at the end of trading on the floor of the Nigerian Exchange Limited on Wednesday, even as the trading volume crashed by 61.77 per cent.

The NGX All-Share Index increased by 0.63 per cent to close at 39,448.46 basis points from 39,176.62bps on Tuesday, while the market capitalisation rose to N20.55tn from N20.41tn.

The number of shares traded fell to 181.42 million with a value of N2.09bn in 3,599 deals from 474.53 million shares worth N3.98bn in 4,161 deals on Tuesday.

The market was boosted by gains in the NGX Premium, Banking, Oil &Gas and Insurance Indices as they appreciated by 0.01 per cent, 0.45 per cent, 0.08 per cent and 0.01 per cent respectively.

The Industrial and Consumer Goods indices dropped by 0.001 per cent and 0.02 per cent respectively

Twenty stocks recorded gains at the end of trading on Wednesday as against 15 losers, indicating a positive market sentiment.

The gainers’ list was led by Pharma-Deko Plc with a 9.17 per cent increase, closing at N1.19 per share. Neimeth International Pharmaceuticals came next, rising by 8.61 per cent to N1.64 per share.

The other top gainers at the end of trading were Ikeja Hotel Plc (7.69 per cent), Livestock Feeds Plc (6.84 per cent) and Linkage Assurance Plc (6.78 per cent).

FTN Cocoa Processors Plc recorded the biggest loss as its share price depreciated by 8.89 per cent to N0.41. It was followed by Wema Bank Plc, which dropped by 7.32 per cent to close at N0.76 per share.

May & Baker Nigeria Plc, Mutual Benefits Assurance Plc and Veritas Kapital Assurance Plc also recorded major losses of -6.38 per cent, -5.56 per cent and -4.17 per cent respectively.

“The domestic bourse extended yesterday’s gain as sustained interest in Airtel Africa plc (+4.9 per cent) supported the market’s positive performance,” analysts at Cordros Capital said.

Analysts at Atlas Portfolios Limited said, “The bulls remained on the Nigerian equities market today as investors enjoyed positive sentiment after the market performance indicators advanced following a price appreciation in the highly capitalized stocks such as Airtel, Zenith Bank Plc and Guaranty Trust Holding Company Plc.” PUNCH

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