Stock market sustains bullish trend with market cap up N35.845trn

By Cynthia Ezekwe.

The Nigerian stock market sustained a bullish trend on Wednesday, as market capitalisation appreciated by 0.01 per cent  to close at N35.845 trillion from the previous close of N35.842 trillion.

 The All Share Index (ASI)  closed at 65,492.81 points from the previous close of 65,488.67 points.

An aggregate of 348 million units of shares were traded in 6,237 deals, valued at N4 billion.

The Market Breadth closed negative as 22 equities emerged as gainers against 26 equities that depreciated in their share prices.

ABC Transport led the  gainers chart  with 9.62 per cent  growth, closing at N0.57 from the previous close of N0.52.

Thomaswyat, Transcorp Hotel and Courtville among other gainers also grew their share prices by over 9.30 per cent, 8.99 per cent  and 8.33 per cent  respectively.

On the contrary, Con oil led other price decliners as it shed 10.00 pert cent  of its share price to close at N99.00 from the previous close of N110.00.

DAAR Communication, Redstar Express and Tantalizer among other price decliners also declined in  their share prices by 9.38 per cent,  8.75 per cent,  and 8.33 per cent respectively.

The major volume drivers on Wednesday’s trading activities were Transcorp, Dangote Sugar, and Fidelity Bank.

TRANSCORP traded about 144.7 million units of its shares in 895 deals, valued at about N1682.6 million; Dangote Sugar traded about 16 million units of its shares in 504 deals, valued at about N632.6 million, while Fidelity Bank traded about 15.8 million units of its shares in 198 deals, valued at N111 million.