Nigeria’s equity market grows by 2.3% as investors gain N1.14tr

The Nigerian equities market maintained its bullish sentiment with a 2.38% growth in the All-Share Index (ASI) on Wednesday.

After five hours of trading today, the ASI increased by 2,092 basis points to 90,063.25 from 87,971.10 posted by the bourse the previous day.

Similarly, the market capitalization increased today by N1,142.17 trillion to N49.281 trillion from N48.139 trillion recorded the previous day.

The market breadth was positive as 45 stocks advanced and 35 declined, while 39 others remained unchanged in 17,471 deals.

Sunu Assurances Nigeria, Guinness Nigeria, Honeywell Flour Mills, AIICO Insurance, and Wema Bank topped the gainers’ chart with 10% growth to close at N1.76, N71.50, N4.84, N1.54, and N11.66 from their previous prices of N1.60, N65.00, N4.40, N1.40, and N10.60 per share.

READ ALSO: Transcorp, Ikeja Hotel, Unity bank, Sterling top list of stocks to buy this week

BUA Cement, May and Baker, and Transcorp with 9.99%, 9.98%, and 9.97% completed the list of gainers in today’s trading.

R.T. Briscoe led other price decliners as it shed 10% off its share price to close at N0.81 from the previous N0.90 per share.

Dangote Sugar Refinery, Nigeria Exchange Group, and Redstar Express with 9.95%, 9.84%, and 9.47% cuts in their share prices are other decliners in today’s trading.

On the volume index, Sterling Bank Financial Holding Company traded 106.141 million shares valued at N800.2 million in 838 deals followed by Japaul Gold Venture with 101.122 million shares worth N268.7 million traded by shareholders in 553 deals.

Transcorp traded 90.466 million shares valued at N1.57 billion in 494 deals.

On the value index, Nigeria Breweries traded stocks worth N2.018 billion in 331 deals followed by Transcorp with N1.576b billion worth of stocks in 494 deals.

Zenith Bank traded stocks worth N1.099 billion in 509 deals.

By: Babajide Okeowo

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