Equities Market Gains As 18 Stocks Appreciate

The Nigerian capital market closed on Wednesday with investors gaining ₦1.7bn at the end of eight hours trading.

All-Share Index on Wednesday increased from 48,568.57 basis points to 48,571.75 basis points.

The market capitalisation of equities listed on the NGX rose from ₦26.183tn to ₦26.185.

At the end of eight hours trading, eighteen companies recorded gains, while 23 companies lost.

Investors traded 246.7 million shares valued at ₦2.32bn in 5,033 deals.

The gainers chart was led by Academy and Wema Bank as their share prices increased by 9.92 per cent and 9.88 per cent to ₦1.33 kobo and ₦3.67 kobo each;

Cadbury and UPDC’s share prices rose by 9.68 per cent and 9.09 per cent to ₦8.50 kobo and 0.96 kobo, respectively.

The losers chart was led by Ikeja Hotels and Lickstock as their share prices fell by 9.68 per cent and 9.5 per cent to ₦1.40 kobo and ₦1.62 kobo,

Chi Plc and Union Bank’s share prices fell by 9.38 per cent and 6.25 per cent to 58 kobo and ₦6.00 kobo, respectively.

Cordros Capital research said, “For most of today’s session, the Nigerian equities market traded quietly; however, gains recorded in BUACEMENT (+1.0 per cent) and Guiness (+7.5 per cent) ensured the market closed higher amid profit-taking on some banking names.

“Thus, the All-Share Index increased by 1bp to 48,571.75 points, with the month-to-date and year-to-date returns unchanged at +3.4 per cent and +13.7 per cent, respectively.”

On sector performance, it said, “The Consumer Goods (+0.7 per cent) and Industrial Goods (+0.4 per cent) indices recorded gains, while the banking (-1.5 per cent), insurance (-0.9 per cent), and oil & gas (-0.7 per cent) indices declined.”