Bulls return as equity market gains N391bn

Transactions on the floor of Nigerian Exchange (NGX) yesterday closed northward, increasing by N391 billion.

Market capitalisation of listed equities increased by 1.47 per cent to N27.009 trillion from N26.618 trillion reported on Tuesday. The NGX All Share Index also appreciated by 724.76 basis points to 50075.47 points from 49350.71 points reported the previous day.

Investors traded 279.221 million shares valued at N2.082 billion in 3576 deals against 140.610 million shares cost N1.600 billion in 3895 deals.

An analysis of the trading activities showed that Dangote Cement led gainers table during the day, increasing by 9.96 per cent to N265.00, NEM Insurance followed with a gain of 9.86 per cent to N4.11, Ellah Lakes added 9.41 per cent to N4.30, Japaul Gold increased by 8.82 per cent to N0.37, May and Baker up by 8.68 per cent to N3.88.

On the contrary,

Wapco Insurance topped losers chart during the day, dropping by 8.84 per cent to N23.20, Nahco trailed with a drop of 8.62 per cent to N5.30, Honey Well Flour dipped by 6.41 per cent to N2.63, UACN down by 5.36 per cent to N10.60, AIICO dipped by 5.26 per cent to N0.54.

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