Stocks: Investors Gain N459bn as Bullish Sentiment Persists

The Nigerian equities market has sustained its bullish streak on Wednesday, with investors gaining N459 billion.

Specifically, the market capitalisation, which opened at N92.031 trillion, gained N459 billion or 0.50 per cent to close at N92.490 trillion.

The All-Share index also increased by 0.50 per cent or 723.83 points, to close at 144,995.26, against 145,719.09 reported on Tuesday.

Increased demand for FTN Cocoa Processors, Livingtrust Mortgage Bank, Eterna, Prestige Assurance, Fidelity Bank and 24 other advanced stocks, drove the market performance higher.

However, the market breadth closed negative with 34 losers and 29 gainers.

Industrial and Medical Gases led the losers’ table by 9.97 per cent, to close at N32.95, Livingtrust Mortgage Bank trailed by 9.93 per cent, settling at N5.35 while Sunu Assurances dipped by 9.48 per cent, finishing at N5.25 per share.

Jaiz Bank declined by 7.53 per cent, ending the session at N4.30 and CHAMS fell by 6.28 per cent, closing at N4.33 per share.

Conversely, FTN Cocoa Processors led the gainers’ table by 8.89 per cent, finishing at N6, Livestock Feeds followed by 7.43 per cent, closing at N7.95 and Eterna increased by 6.96 per cent, to close at N41.50 per share.

Also, Prestige Assurance rose by 4.94 per cent, settling at N1.70 while Fidelity Bank grew by 4.74 per cent, closing at N21.

Analysis of the market activity revealed decline in the market deals and value with an improvement in the volume as 525.72 million shares worth N13.61 billion were exchanged across 25,597 transactions.

This is compared to 507.41 million shares worth N24.29 billion that was traded across 30,681 deals.

Meanwhile, transactions in the shares of Consolidated Hallmark Holdings topped the activity chart in volume with N83.54 million shares valued at N351.03 million.

FirstHoldCo followed with 36.54 million shares worth N1.13 billion while Jaiz Bank sold 28.7 million shares valued at N125.56 million.

CHAMS traded 24.46 million shares worth N106.69 million and Ellah Lakes transacted 21.37 million shares valued at N300.23 million. (NAN)