Stock market records N20 billion gain
The stock market reversed losses by 0.02 per cent on Wednesday, recording N20 billion gain for investors after a day of negative run.
The positive performance was due to returning investors’ interest in stocks like Skye Shelter Fund, Royal Exchange, International Energy Insurance, Julius Berger, Omatek and 29 other stocks.
Specifically, the market capitalisation, which opened at N93.756 trillion, added N20 billion to close at N93.776 trillion.
Similarly, the All-Share Index soared by 0.20 per cent or 31.27 points, settling at 147,742.23 compared with 147,710.96 recorded on Tuesday.
Also, the market breadth closed positive with 34 gainers against 28 losers.
On the gainers’ table, Skye Shelter Fund led by 9.88 per cent, ending the session at N418.75, Royal Exchange trailed by 7.37 per cent, settling at N2.33 and International Energy Insurance increased by 6.05 per cent, closing at N2.98 per share.
Julius Berger rose by 5.51 per cent, finishing at N134 while Omatek Ventures soared by 4.90 per cent, settling at N1.50 per share.
On the contrary, Tripple Gee led the losers’ table by 9.91 per cent, closing at N4.91, Industrial and Medical Gases followed by 9.87 per cent, finishing at N32.40 while UAC of Nigeria dropped by 6.46 per cent, ending the session at N68 per share.
Ellah Lakes dipped by 4.66 per cent, closing at N13.30 and Ja Paul Gold fell by 4.51 per cent, settling at N2.54 per share.
The market activity showed an overall improvement in the market volume, value and deals as 389.1 million shares valued at N12.5 billion were traded across 23,017 transactions.
This is compared to 262.5 million shares worth N8.3 billion that were exchanged across 16,693 transactions earlier on Tuesday.
Transactions in the shares of Fidelity Bank topped the activity chart in volume with 46.9 million shares valued at N942.3 million.
CHAMS followed with 24.8 million shares worth N101.4 million while Zenith Bank traded 20.8 million shares valued at N1.42 billion.
Access Corporation transacted 19.2 million shares worth N495.3 million and FirstHoldCo sold 16.6 million shares valued at N519.7 million.
(NAN)
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