Nigeria Stock market advances with N130bn

The Nigerian equity market on Wednesday maintained positive sentiment for the third trading session as key market performance measures, NSE ASI and market capitalisation, further grew by 1.03 per cent each.

The market breath closed positive as number of gainers at the close of trading session was 37 while decliners closed at only five.

Consequently, the All-Share Index rose by 249.36 basis points or 1.03 per cent to close at 24.452.23 index points as against 24.202.87 recorded the previous day while market capitalisation of equities appreciated by N130bn or 1.03 per cent to close higher at N12.743tn from N12.613tn as market sentiment remained on the green territory.

A turnover of 436.84 million shares in 5,195 deals was recorded in the day’s trading.

Premium subsector was the most active (measured by turnover volume) with 209.69 million shares exchanged by investors in 2,295 deals.

Volume in the subsector was driven by activities in the shares of Access Bank Plc and Zenith Bank Plc.

Banking subsector boosted by the activities in the shares of GTB Plc and Ecobank Plc followed with a turnover of 58.24 million shares in 658 deals.

Further analysis of the day’s trading showed that Red Star Express Plc topped the gainers’ table with 10 per cent to close at N3.41 per share while Jaiz Bank Plc followed with 9.09 per cent to close at 60 kobo per share and Lasaco Insurance Plc with a gain of 8.70 per cent to close at 25 kobo per share.

On the flip side, Unity Bank Plc led the losers’ chart with a drop of 3.85 per cent to close at 50 kobo per share. Union Dicon Plc followed with a loss of 3.23 per cent to close at 30 kobo per share while Wapco Insurance Plc dropped by 2.65 per cent to close at N11.00 per share.

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