Investors net N27bn as Oando tops gainers’ chart in Nigeria’s stock market

Nigeria’s bourse continued to bask in its bull zone on Wednesday as investors closed the stock market with a N27 billion gain.

Trading on the floor of Nigerian Stock Exchange (NSE) ended with market capitalization standing at N21.043 trillion, over the N21.014 trillion recorded on Tuesday.

The sudden rise in investors’ interest in Nigeria’s capital market pushed the number of shares to 469.56 million on Wednesday, surpassing the 337.95 million shares traded by investors the previous day.

The increased activities led to the 0.14 percent rise in the All Share Index (ASI) which closed the stock market with 40,221.30 ASI on Wednesday compared to 40,164.86 recorded 24 hours earlier.

The deals completed by investors increased from 5,232 to 5,470 on Wednesday.

Meanwhile, the value of shares increased from N3.84 billion recorded on Tuesday to N7.08 billion on Wednesday.

At the end of trading, Oando’s share price increased from N3.1kobo to N3.41kobo per share following a gain of N0.31kobo.

Associated Bus Company share price rose by 9.38 percent and moved from N0.32kobo to N0.35kobo.

Japaul Gold made the list following a gain of 9.23 percent which increased its share price from N0.65kobo to N0.71kobo.

Royal Exchange’s share price rose by 8.70 percent to end trading at N0.25kobo from N0.23kobo on Wednesday.

READ ALSO: Nigeria’s stock market rebounds as First Bank leads investors’ activities

Academy also recorded 7.89 percent growth and moved from N0.38kobo to N0.41kobo per share at the end of trading.

Lasaco topped the losers’ chart after shielding N0.13kobo in share price to drop from N1.37kobo to N1.24kobo at the end of trading.

Consolidated Hallmark Insurance share price dropped from N0.36kobo to N0.33kobo following a loss of 8.33 percent in its share price.

Cornerstone share price plunged by 7.81 percent to end trading at N0.59kobo per share from N0.64kobo.

Flour Mills’ share price declined from N31 to N28.85kobo per share after losing N2.15kobo in share price during trading.

WAPIC Plc completed the list as its share price fell by 6.90 percent to end trading at N0.54kobo per share, having opened trade with N0.58kobo.

For traded shares, Zenith Bank was the most active stock on Wednesday as investors traded 154.62 million shares worth N4.09 billion.

GTBank shares were traded at a volume of 48.79 million and valued at N1.52 billion.

First Bank was next with 25.27 million shares traded at a cost of N185.62 million.

Transcorp reported 25.13 million shares worth N23.42 million while United Capital recorded over 22 million traded shares at a value of N136.80 million.

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