Demand for Stanbic IBTC, Ecobank shares halt Nigeria’s capital market losses

The Nigerian capital market ended its two straight losses following the rise in equity capitalization by 0.24 percent on Wednesday.

This lifted the equity capitalisation by N64.98 billion from N26.18 trillion to N26.25 trillion at the close of trading today.

Also, the All-Share Index rose by 120.48 basis points to close at 48,675.24, up from 48,554.76 posted on Tuesday.

Investors traded 167.56 million shares worth N3.37 billion in 3,751 deals on Wednesday.

This figure was lower than the 204.15 million shares valued at N3.18 billion traded by investors in 3,533 deals the previous day.

NEM led the gainers’ list with N0.44kobo rise in share price to move from N4.40kobo to N4.84kobo per share.

Stanbic IBTC gained N2.50kobo to move from N28 to N30.50kobo per share.

Ecobank’s share value was up by N0.80kobo to end trading with N10.80kobo from N10 per share.

Cutix gained N0.14kobo to close at N2.04 above its opening price of N1.90kobo per share.

Mutual Benefit’s share traded upward by 6.90 percent and rose from N0.29 kobo to N0.31kobo per share.

Fidson topped the losers’ table after shedding N0.99kobo to drop from N10.10kobo to N9.11kobo per share.

FTN Cocoa’s share price dropped by 9.09 percent to end trading at N0.30kobo from N0.33kobo per share.

READ ALSO: Investors drop N426bn as Nigeria’s capital market continues losing streak

Unity Bank lost 2.33 percent to end trading with N0.42kobo from N0.43kobo per share.

FCMB lost 2.19 percent to drop from N3.20kobo to N3.13kobo per share.

AIICO shares dropped from N0.56kobo to N0.55kobo per share after losing 1.79 percent during trading.

Access Corp led the day’s trading with 27.89 million shares valued at N231.14 million.

UBA sold 22.94 million shares worth N160.90 million.

 

 

 

FBN Holdings followed with 22.50 million shares valued at N241.97 million

GTCO traded 16.08 million shares worth N323.98 million, while Zenith Bank traded 11.85 million valued at N261.11 million.

 

  

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