Equity market closes higher, gains N50bn

Transactions on the floor of Nigerian Stock Exchange Wednesday returned to positive trend, increasing by N50 billion. Specifically, market capitalisation of listed equities increased by 0.23 per cen to N21.524 trillion from N21.474 trillion reported the previous day.

The NSE All Share Index also appreciated by 96.09 basis points to 41147.72 points from 41051.63 points recorded on Tuesday.

Investors traded 649.649 million shares valued at N4.611 billion against 525.006 million shares worth N5.337 billion exchanged hands the previous day in 5965 deals.

A review of the trading activities showed that Wapco Plc led gainers table during the day, appreciating by N2.00 to close at N26.50 kobo, Ardova Plc followed with a gain of N1.75 kobo to close at N19.75 kobo, Boc Gas added N1.35 kobo to close at N15.12 kobo, Northern Nigeria Flour Mill grew by N0.80 kobo to close at N8.80 kobo, Flour Mills Nigeria Plc went up by N0.60 kobo to close at N32.50 kobo.

Conversely, Guaranty Trust Bank topped losers chart, dropping by N0.70 kobo to close at N33.05 kobo, Mansard Insurance trailed with a loss of N0.17 kobo to close at N1.53 kobo , Cutix Plc fell by N0.12 kobo to close at N2.06 kobo, Japaul Gold declined by N0.12 kobo to close at N1.16 kobo, Africa Prudential down by N0.10 kobo to close at N7.00.

The result also indicated that Mutual Benefit was the toast of investors during the day, accounting for 52.106 million shares valued at N28.652 million, Transnational Corporation of Nigeria followed with account of 51.653 million shares worth N66.116 million, Sterling Bank traded 48.119 million shares valued at N94.297 million, Wapco sold a total of 34.670 milliin shares cost N900.091 million while UAC Property traded 30.726 million shares valued at N22.982 million.

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