Investors Gain N241bn in Mid-Week Trading

By Toyin Ajadi

It was another day of gains on the Nigerian equities market on Wednesday
as the market capitalisation rose by N241 billion to close the day’s trading at N56,881 trillion as against N56,640 on Tuesday.

The all-share index also rose by 0.42% to close at 98,987.42 basis points compared to 98,568.59 the previous day while the day’s session ended with 31 gainers and 24 losers.

Seplat Petroleum Development Company led the gainers with a price gain of 10% to close at N4,103.10k followed by Flour Mills Nigeria,also with 10% price gain and a closing price of N60.50k and Ellah Lakes came next with 9.97% gain to close at N4.08k.

On the losing side were Multiverse Mining and Exploration with 9.9% decline and a closing rate of N9.10k. It was followed by Caverton Offshore Support Group with 9.86% price loss to close at N3.28k then AXA Mansard Insurance lost 6.78% to close at N5.50k.

The banking stock dominated trading with Fidelity Bank recording the highest volume of 122 million shares.

In all, mid- week trading saw a total of 603.3 million shares worth N12.6 billion traded in 9,723 deals.