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Dangote Cement, May & Baker propel Nigeria’s capital market to N390.9bn gain



The Nigerian capital market was lifted by the 1.46 percent rise in equity capitalization at the close of trading on Wednesday.

After eight hours of trading on the floor of the capital market, the market capitalization rose by N390.91 billion from N26.61 trillion to N27 billion today.

Also, the All-Share Index rose by 724.76 basis points to close at 50,075.47, up from 49,350.71 posted on Tuesday.

Investors traded 279.22 million shares worth N2.08 billion in 3,576 deals on Wednesday.

The volume of trading was higher compared with the 140.61 million shares valued at N1.60 billion which exchanged hands in 3,895 deals the previous day.

Dangote Cement led the gainers with N24 to rise from N241 to N265 per share.

NEM gained N0.37kobo to move from N3.74kobo to N4.11kobo per share.

Ellah Lakes’ share value was up by N0.37kobo to end trading with N4 30kobo from N3.93kobo per share.

READ ALSO: Nigeria’s capital market crashes as investors lose N620bn in 8 hours

Japaul Gold gained 8.82 percent in share price to close at N0.37kobo as against the opening N0.34kobo per share.

May & Baker gained N0.31kobo to rise from N3.57 kobo to N3.88kobo per share.

WAPCO topped the losers’ chart after shedding N2.25kobo to drop from N25.45kobo to N23.20kobo per share.

NAHCO’s share price dropped by N0.50kobo to end trading at N5.30kobo from N5.80kobo per share.

Honeywell Flour lost N0.18kobo to end trading with N2.63kobo from N2.81kobo per share.

UAC Nigeria’s share dropped from N11.20kobo to N10.60kobo per share after losing N0.60kobo during trading.

AIICO lost 5.26 percent to drop from N0.57kobo to N0.54kobo per share.

Jaiz Bank led the day’s trading with 115.12 million shares valued at N100.14 million.

FBN Holdings sold 39.95 million shares worth N431.49 million.

UBA followed with 14.66 million shares valued at N104.31 million

AIICO traded 13.91 million shares worth N7.67 million, while Japaul Gold traded 13.25 million valued at N4.90 million.

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