Business Latest

NSE: Market rallies on the back of higher demand for industrial stocks

The equity market recovered on Wednesday after slipping into the negative territory at the previous session as surging interest in industrial stocks aided improvement in the overall market value.

BUA Cement and WAPCO were particularly notable among the stocks in this category while mid-cap equities like Cadbury, PZ and Sterling Bank also boosted the rebound.

The Banking Index performed worst of all the sectorial indices, falling 0.88% to 279.49 basis points as lower trade volumes was recorded in the sector’s activities.

22 losers were recorded compared to 12 gainers, causing the market to close with a negative breadth

The All Share Index (ASI) inched up by 0.47% to close at 24,595.05 basis points. Market capitalisation leapt by N60.421 billion as it rose to N12.830 trillion at the end of today’s session.

Year to date, the index is down by 8.37%.

TOP 5 GAINERS

Cadbury led gainers, appreciating by 9.63% to close at N7.40. Sterling Bank grew by 9.60% to end today’s trade at N1.37. Chams went up by 9.52% to N0.23. Japaul rose to N0.23, notching up 9.52% in the process. BUA Cement completed the top 5, climbing up by 8.53% to N42.

READ ALSO: NSE: Investors lose N198bn on profit-taking in heavyweight stocks

TOP 5 LOSERS

NAHCO topped the losers’ chart today declining by 13.10% to close at N1.99. Neimeth shed 1.49% to end today’s trade at N9.70. Learn Africa fell to N1.08, losing 7.69% in the process. WAPIC slumped to N0.33, recording 5.71% depreciation. Wema closed at N3.70, going down by 0.52%.

TOP 5 TRADES

198.012 million shares estimated at N1.036 billion were traded today in 3,772 deals.

WAPIC was the most active stock with 30.278 million of its stocks worth N11.196 million traded in 21 deals. 22.788 million units of UPDCREIT shares priced at N79.677 million exchanged hands in 18 transactions. UBA had 20.202 million shares valued at N123.512 million traded in 286 deals. Transcorp traded 19.380 million shares estimated at N12.758 million in 73 transactions. Chams traded 11.654 million shares valued at N2.589 million in 29 deals.

Ronald Adamolekun

Join the conversation

Opinions

About the author

Ronald Adamolekun

Ronald Adamolekun is a creative writer with a mixed bag of experience in fields as diverse as data journalism, financial reporting and editing.

/* ]]> */