NGX: Equities key Index appreciates by 0.37%

Chiamaka Ikechukwu

Nigeria’s local bourse remained in the positive zone on Wednesday as the key Index appreciated by 0.37% at the end of the day’s trading.


The major market component, the All-Share Index inched up by 154.24 basis points, representing a 0.37 percent increase to close at 41,051.19 points higher than Tuesday’s 40,896.96 points.



Similarly, the market capitalization of listed equities appreciated by N80 to close at N21, 391 trillion, showing a 0.37 percent increase compared to the N21, 310 trillion of the previous day.



A stock analyst, Effong Ekpo, said the sustained gains came by mid cap securities, especially the banking securities like First Bank.



Ekpo said the market situation shows that investors are wary and conscious as government plans to offer bonds subscriptions.



The trade volume was also high  as 446,172,254  million units of shares exchanged hands in 4,704 deals.


The market sentiment, as measured by market breadth was positive with 29 gainers and 14 losers to close the day’s trading session.



On price movement, TRANSCOHOT led the gainers’ table with a price gain of N0.54k to close at N5.97k. Champion Breweries Plc
followed with a price gain of N0.25k to close at N2.78k, while CHIPLC also gained N0.05k to close at N0.60k.


On the flipside, FTN Coca Processors
led the losers’ chart, with a loss of N0.04k to close at N0.46k.
ABCTRANS followed with a closing of  N0.32k after losing N0.02k, while REGALINS lost N0.02k to close at N0.38k.
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