NGX: Twenty-eight stocks inch up investors’ gain

Gains in the share price of Eterna and 27 stocks pushed up the Nigerian Exchange Group Limited, NGX market capitalisation to N319 billion at the end of Wednesday’s trade.

The All Share Index of listed equities inched up by 592.85 basis points, representing a 1.2 percent increase to close at 48,138.71 points.

Also, the overall market capitalisation value gained over N319 billion to close at N25.952 trillion.

The bullish trend was impacted by gains recorded in medium and large capitalised stocks, such as Guinness Nigeria amongst others.

The positive sentiment which has persisted in the market since last week is in line with analysts’ expectations that the market will continue to see investors trying to pick attractive counters across the board amid bargain hunting.

The day’s market sentiment when measured by market breadth was positive as 28 stocks appreciated in price relative to 21 losers.

Eterna Plc recorded the highest price gain of 10 percent to close at N5.50k.

Japaul Gold followed also with a 10 percent gain to close at N0.33k; then Guinness Nigeria which had 6.86 percent gain to close at N82.25k.

Union Dicon Salt Plc led the losers’ chart, dropping 9.60 percent to close at N0.56k.

CWG Nigeria with a decline of 9.28 percent to close at N0.88k, and John Holt followed with a decline of 8.97 percent to close at N0.71k.

The total volume of 349.56 million units of shares were traded at the close of business in 4,587 deals.