Bulls return as equity market gains N18bn

Transactions on the flour of Nigerian Stock Exchange Wednesday returned to bullish run as the market appreciated by N18 billion.

Specifically, market capitalisation of listed equities increased by 0.09 per cent to N20.220 trillion from N20.202 trillion reported the previous day.

The NSE All Share Index also appreciated by 34.32 basis points to 38636.15 points from 38601.83 points traded on Tuesday.

Investors exchanged 278.044 million shares valued at N2.272 billion in 3989 deals against 208.807 million shares worth N2.909 billion in 4013 deals.

A review of the trading activities indicated that Guinness Nigeria PLC led gainers table during the day appreciating by 9.96 per cent to N26.50 kobo, Meyer Paint followed with a gain of 8.16 per cent to N0.53 kobo, Wema Bank PLC added 5.26 per cent to N0.60 kobo. Chams PLC increased by 4.76 per cent to close at N0.22 kobo , Caverton added gained 2.56 per cent to N2.00.

On the contrary, Northern Nigerian Flour Mills topped losers chart, dropping by 10 per cent to N5.40 kobo, Fidson Healthcare trailed by 8.89 per cent to N4.28 kobo, Cutix Plc declined by 9.78 per cent to N2.03 kobo, Sterling Bank sheds 8.33 per cent to N1.65 kobo, Wapic Insurance went down by 8.00 per cent to N0.46 kobo.

The result further showed that Japaul Gold was the most active stock during the day, exchanging 46.219 million shares in 279 deals, UACN followed with account of 32.595 million shares in 140 deals, Fidelity Bank sold a total of 28.472 million shares in 144 deals, Access Bank exchanged 22.685 million shares in 225 deals while Zenith Bank traded 19.617 million shares in 330 deals

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