Investors make N87.5bn as bulls seize control of Nigeria’s capital market

The bulls maintained their hold on the Nigerian capital market on Wednesday with their participation in the day’s trading session lifting the bourse by 0.34 percent.

In the capital market, a bull is a speculator who buys a holding in stock with the expectation that it will rise in value in the short term and later sells the stock to make a quick profit on the transaction.

The bullish sentiment handed the investors N87.5billion gain following the rise in equity capitalization from N25.44 trillion posted on Tuesday to N25.53 trillion today.

The All-Share Index was up by 162.28 basis points to close at 47,367.31 compared to 47,205.03 reported the previous day.

Investors traded 391.88 million shares valued at N9.95 billion in 5,419 deals on Wednesday.

This surpassed the 245.42 million shares worth N4.58 billion which exchanged hands in 5,832 deals on Tuesday.

Meyer led the gainers’ table with N0.13kobo to rise from N1.36kobo to N1.49kobo per share.

Ikeja Hotel’s share was up by N0.11kobo to move from N1.19kobo to N1.30kobo per share.

Caverton’s share appreciated by 6.78 percent to move from N1.18kobo to N1.26kobo per share.

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UBN gained N0.40kobo to end trading with N6.5Pkobo from N6.10kobo per share.

FTN Cocoa completed the list after gaining 6.45 percent to close at N0.33kobo from N0.31kobo per share.

Sunu Assurance led the losers’ chart, shedding 7.69 percent to drop from N0.39kobo to N0.36kobo per share.

Sterling Bank’s share dropped 6 percent to end trading with N1.41kobo from N1.50kobo per share.

Unilever’s share fell from N13.30kobo to N12.70kobo per share after losing N0.60kobo during trading.

Wapic lost 4.44 percent to end trading with N0.43kobo from N0.45kobo per share.

United Capital completed the list after losing N0.55kobo of its share price to drop from N13.85kobo to N13.30kobo per share.

GTCO led the day’s trading with 65.88 million shares valued at N1.61 billion.

Zenith Bank followed with 43.91 million shares valued at N1.10 billion.

UBA traded 28.91 million shares worth N235.70 million.

Fidelity Bank sold 28.50 million shares worth N106.47 million, while MTN Nigeria traded 22.75 million valued at N4.82 billion.

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