Nigeria’s Equities Market maintains bullish trend, gains N24bn
Salamatu Ejembi, Lagos.
Positive sentiments persisted in the domestic equities market for the third consecutive trading session, following interests in FLOURMILL (+6.9%), MOBIL (+9.4%) and WAPCO (+1.4%) stocks.
The benchmark increased by 0.11% or 45.1 basis points to close at 40,341.05 basis points on Wednesday from Tuesday’s 40,295.95 basis points.
Similarly, the Market Capitalization advanced by 24 billion Naira or 0.11% to close at 21,094 trillion Naira from previous day’s 21,070 trillion Naira.
Analysis, according to Cordros Securities, puts Month-to-Date and Year-to-Date gains both to have increased to 0.2%.
The total volume traded declined by 59.9% to 468.15 million units, valued at N6.96 billion, and exchanged in 5,697 deals.
ZENITH BANK PLC was the most traded stock by volume at 45.77 million units as well as by value at N1.9 billion.
Performance across sectors was positive, as all five major indices recorded gains.
The Insurance grew 4.1%, Oil & Gas grew 1.7%, Consumer Goods grew 0.1%, Industrial Goods grew 0.1% and Banking grew 0.1%.
Market sentiment, as measured by market breadth, was positive as 32 stocks gained, relative to 16 losers.
Top three gainers for Wednesday was led by ACADEMY PRESS PLC when it moved from a previous selling price of 0.30k per share to 0.33k per share, gaining 0.03k or 10.00 percent, followed by SOVEREIGN TRUST INSURANCE PLC with a previous selling price of 0.20k per share to 0.22k per share, gaining 0.02k or 10.00 percent. VERITAS KAPITAL ASSURANCE PLC was next with a previous selling price of 0.20k per share to 0.22k per share, gaining 0.02k or 10.00 percent.
While on the losers’ table, CHELLARAMS PLC topped the chart after dropping from a previous selling price of N2.51k per share to N2.26k per share, losing 0.25k or 9.96 percent. LIVESTOCK FEEDS PLC. followed by dropping from N1.95k per share to N1.76k per share, gaining 0.19k or 9.74 percent, while CONSOLIDATED HALLMARK INSURANCE PLC dropped from 0.34k per share to close at 0.31k per share, losing 0.03k or 8.82 percent.