Bulls On Rampage As Domestic Equities Gain N1.185trn
Agency Report
Trading on the floor of Nigerian Exchange (NGX) on Wednesday closed Northward, appreciating by N1.185 trillion as bulls continued to dominate the market.
Market Capitalization of listed equities increased by 1.57 per cent to N76.761 trillion from N75.576 trillion reported on Tuesday.
The NGX All Share Index also increased by 1,466.87 basis points to 121257.69 points from 119790.82 point recorded the previous day.
The growth profile was driven by gains in the shares of Oando, Dangote Suger , Cadbury CWG , C&I Leasing and other 58 listed firms.
The market breath was strong with 63 gainers against 17 losers. As a result, year to date return increased to 17.81 per cent.
A review of investment showed that Oando Plc and Dangote Sugar led gainers table with 10 per cent each to N68.75 and N48.40 per unit respectively. Champion Breweries and C&I Leasing followed with a gain of 9.98 per cent each to close at N10.91 and N5.18 per unit respectively. CWG added 9.90 per cent to close at N11.60 per share.
On the contrary, UPL topped losers’ chart, dropping by 6.25 per cent to close at N6.00 per unit, RTBriscoe trailed with a loss of 6.12 per cent to close at N2.30 per unit, Multiverse down by 4.89 per cent to close at N8.75 per share, Meyer Paint down by 4.69 per cent to close at N9.15 per unit, Conhall Plc fell by 4.15 per cent to close at N3.00 per share.
Volume of trades declined by 7.009 million, representing 0.81 per cent as investors traded 861.670 million shares valued at N26.176 billion in 22896 deals against 868.679 million shares worth N23.708 billion in 22207 deals.
Transactions in the shares of Fidelity Bank led market activities with 82.979 million shares valued at N1.658 billion, Caverton Business Solutions followed with account of 64.180 million shares cost N319.685 million, Zenith Bank traded 60.624 million shares valued at N3.449 billion, Japaul Gold exchanged 56.255 million shares cost N115.354 million, Access Holdings company traded 48.589 million shares worth N1.122 billion.
