Equity market gains N14bn




The Nigerian equity market on Wednesday returned to bullish run yesterday, closing higher by N14 billion. It was fueled by gains recorded by BUACement, Ardova Plc and others lifted the market.

Market capitalisation of listed equities increased by 0.05 per cent to N26.531 trillion from N26.517 trillion traded on Tuesday.

The NGX All Share Index also appreciated by 10.25 basis points to 49171.70 points from 49161.45 reported the previous day.

Investors traded 101.569 million shares valued at N1.197 billion in 3981 deals against 139.240 million shares worth N1.604 billion in 3421 deals.

An analysis of the investment showed that the market recorded 20 losers against seven gainers.

Chams Plc led gainers table during the day, gaining 8.0 per cent to N0.27, Ardova Plc followed with a gain of 7.42 per cent to N13.75, Sovereign Trust Insurance gained 3.57 per cent to N0.27, BUACement added 3.07 per cent to N52.00, Jaiz Bank added 2.70 per cent to N0.76.

On the contrary, Japaul Gold topped losers chart during the day, dropping by 10.00 per cent to N0.27, Royal Express trailed with a drop of 9.80 per cent to N0.92, Chi Plc down by 8.62 per cent to N0.53, RTBriscoe fell by 8.57 per cent to N0.32, Fidson Health care dipped by 7.54 per cent to N9.20.

The result further showed that GTCO Plc was the toast of investors during the day, exchanging 14.336 million shares valued at N259.042 million, Zenith Bank followed with account of 11.555 million shares cost N228.904 million, FBNHoldings traded 6.275 million shares cost N61.233 million, Transnational Corporation of Nigeria exchanged 6.195 million shares valued at N6.267 million while Chams Plc traded 5.704 million shares worth N1.482 billion.

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