Stock market maintains bullish trend with market cap up N32.662trn

By Cynthia Ezekwe  

The Nigerian stock market maintained a bullish uptick on Wednesday, from the previous day’s trading activities, as the market capitalisation  advanced by about N32.662 trillion.

The All Share Index (ASI) recorded an increase as it gained  3.13 per cent  or 1,816.45 points to reach 59,985.10 points, away from the previous close of 58,163.59 points, which signifies investors optimism in the Nigerian market.

Market capitalisation on Wednesday grew by 3.13 per cent  to close at N32.662 trillion away from the last close of N31.670 trillion on Tuesday, adding 992 billion

An aggregate of 1.297 billion units of shares were traded in 11,947 deals, valued at N21 billion.

The market Breadth closed positive as 70 stocks gained while 13 stocks declined in their share prices.

Dangote Sugar, International Breweries, Seplat, Sterling Bank, Transcorp Hotel, FBNH and MTN Nigeria led the gainers chart, gaining 10.00 per cent  each of their share prices.

Also, TOTAL Energy  led 25 other stocks that gained over 9.00 per cent  of their share prices.

However, PHARMADEKO led price decliners’ chart as it shed 9.65 per cent  of its share price to close at N2.06 from the previous close of N2.28; while CWG, Northern Nigerian Flourmill and BUACEMENT among other price decliners also shed their share prices by 9.44 per cent , 8.66 per cent  and 6.52 per cent respectively.

The major volume drivers were UBA,GTCO, and Zenith Bank.

UBA traded about 230.8 million units of its shares in 638 deals, valued at N2.7 billion; GTCO traded about 125 million units of its shares in 930 deals, valued at about N4.2 billion; while Zenith Bank traded about 119 million units of its shares in 859 deals, valued at about N4 billion.