Equities market returns to bullish run, gains N378bn
The domestic equity market on Wednesday returned to positive growth, appreciating by N378 billion as bulls dominated the trading activities during the day.
Market capitalization of listed equities increased by 0.49 per cent to N76.179 trillion from N75.801 trillion reported on Tuesday.
The NGX All Share Index also appreciated by 598.67 basis points to 120339.90 points from 119741.23 points recorded the previous day.
The market sentiment remained broadly positive as reflected by strong market breath with 61 stocks recorded gains against 15 decliners.
As a result, year to date return rose to 16.92 per cent.
An analysis of the investment showed that International General Insurance, Omatek and EllahLakes gained 10 per cent each to close at N1.98, N0.88 and N9.24 per unit, respectively NSLTech and Cutix Plc also gained 10 per cent each to close respectively at N0.66 and N3.96 per share.
On the contrary, Deap Capital topped losers’ chart, dropping by 9.09 per cent to close at N1.00 per unit, JohnHolt trailed with a loss of 5.41 per cent to close at N7.00, Dangote Sugar fell by 5.32 per cent to close at N44.50 per share, Universal insurance dropped by 4.76 per cent to close at N0.60 per unit, Oando Plc dipped by 4.73 per cent to close at N52.35 per unit.
Volume of trades also went up by 518.921 million, representing 98.45 per cent as investors traded 1.049 billion shares valued at N12.174 billion in 21964 deals against 527.079 million shares valued at N11.277 billion exchanged hands the previous day in 21546 deals.
Transactions in the shares of Royal Express led market activities with 218.697 million shares valued at N229.107 million, Japaul Gold followed with account of 174.087 million shares cost N473.443 million, EllahLakes traded 83.467 million shares cost N762.225 million, Wema Bank sold a total of 71.134 million shares cost N1.068 billion while Chams exchanged 37.578 million shares valued at N87.140 million.
