Nigeria equity investors gain N3bn after two day loss

Investors trading in the equities segment of the Nigerian Stock Exchange (NSE) Wednesday gained N3 billion as market capitalisation increased to N13.431 trillion against N13.428 trillion recorded on Tuesday.

The performance halted a bearish trend that began Monday as the All Share Index (ASI) also recorded a marginal gain of 0.02 percent to close at 27,607.02 basis points.

The day’s growth was attributed to gains recorded in medium and large capitalised stocks, amongst which are: MTN Nigeria, Forte Oil, Cement Company of Northern Nigeria (CCNN), Dangote Cement and Ecobank Transnational Incorporated (ETI).

Continental Reinsurance, Cornerstone Insurance and John Holts recorded the highest price gain of 10% each to close at N1.43, 22k and 55k respectively per share.

Unity Bank trailed with 8.33 percent to close at 65k, while Forte Oil appreciated by 5.48 percent to close at N15.40 per share.

Wapic Insurance appreciated by 5.41 percent to close at 39k, while Oando appreciated by 4 percent to close at N3.90 per share.

Conversely, Honeywell Flour Mills led the losers’ chart with a loss of 7.41 percent to close at N1.00, per share.

PZ Cussons lost 5.60 percent to close at N5.90, while Access Bank shed 5.15 percent to close at N6.45 per share.

Fidelity Bank dipped 4.73 percent to close at N1.61, while Charms dropped by 3.45 percent to close at 28k per share.

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Although sentiments in the market remained unchanged as market breadth closed the same with 13 gainers and 13 decliners, investors bought and sold 130.37 million shares worth N3.01 billion exchanged in 2,866 deals.

This was 29 percent lower than turnover of 183.65 million shares valued at N4.50 billion transacted in 3,558 deals on Tuesday.

Transcorp drove the activity chart with 39.09 million shares valued at N41.74 million.

MTN Nigeria Communications came second with 15.27 million shares valued at N2.14 billion, while Lafarge Africa traded 10.44 million shares worth N147.73 million.

Zenith Bank sold 7.57 million shares valued at N140.06 million, while FBN Holdings transacted 6.73 million shares worth N32.77 million.