Stock market appreciates by N134bn

Transactions on the floor of Nigerian Stock Exchange on Wednesday returned to bullish trend as the two market indicators close higher.

Specifically, market capitalisation of listed equities increased by N134 billion or 1.0 per cent to N13.475 trillion from N13.341 trillion reported on Tuesday. 

The NSE All Share Index also appreciated by 274.57 basis points to 27681.61 points from 27407.04 reported the previous day.

 Investors traded 379.506 million shares valued at N5.346 billion in 3923 deals against 198.034 million shares valued at N2.898 billion exchanged hands the previous day in 3830 deals.

An analysis of the investment for the day showed that Stanbic IBTC led gainers table during the day, growing by N2.45 kobo to close at N39.95 kobo, Guaranty Trust Bank followed with a gain of N1.30 kobo to close at N29.80 kobo, MTN Nigeria Communications Plc added N1.00 to close at N140.00, Ecobank Transnational Incorporated gained N0.80 kobo to close at N8.80 kobo, Lafarge Wapco increased by N0.60 kobo to close at N15.30 kobo.

Conversely, Forte Oil Plc topped losers chary for the day, shedding N0.35 kobo to close at N16.00, Champion Breweries trailed with N0.11 kobo to close at N1.14 kobo, Custodian and Investment fell by N0.05 kobo to close at N5.95 kobo, United Bank for Africa dipped by N0.05 kobo to close at N6.35 kobo while FBNHoldings went down by N0.05 kobo to close at N5.40 kobo.

The result further showed that Guaranty Trust Bank was investors delight during the day, having accounted for 98.418 million shares worth N2.825 billion, Access Bank Plc followed with 40.728 million shares worth N314.467 million, FBNHoldings traded 40.078 million shares worth N216.625 million. FCMB group sold a total of 20.051 million shares cost N33.866 million while Sterling Bank traded 17.584 million shares worth N38.812 million.

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