Sterling Bank, Conoil, Champions Breweries Lead In Stock Market N3bn Gain
The Nigerian stock market returned positive Wednesday following days of losses as the bulls marginally edged the bears in terms of value on the (NGX) Wednesday.
The All-Share Index (ASI) gained 7.38 index points or 0.01 percent to close at 47,163.94 points up from 47,156.56 points it closed the previous trading session.
Also, the NGX market capitalization appreciated by N3 billion or 0.01 per cent to stand at N25.418 trillion up from N25.415 trillion recorded on Tuesday.
The marginal rise of market indices was triggered by gains made by large and medium scale firms which include ; CAP Plc, Learn Africa Plc, Champions Breweries, Steeling Bank Plc and Conoil Plc.
The market turnover rose 13.45 per cent, as investors traded a total of 303.48 million units of shares worth N3.21 billion in 4,099 deals compared to 303.48 million units of shares valued at N3.90 billion in 4,616 deals transacted the previous day.
The market breadth was at par, with losers and gainers closing at 16 companies apiece compared to 29 laggard equities as well as seventeen companies recording gains the previous trading session.
CAP Plc led the gainers’ table in percentage parameters, gaining 19 per cent to close at N19. 80 kobo oer share.
Learn Africa Plc and Champions Breweries rise 9.60 per cent and 9.09 per cent to close at N2. 17 kobo and N2. 04 kobo per share respectively.
Sterling bank Plc saw its shares jumped 3 .95 per cent to close at N1. 58 kobo per share, while Oil and Gas giant, Conoil Plc appreciated 2.92 per cent to close at N24.70 per share.
On the flip side, First City Monument Bank (FCMB) dominated the losers’ chart in percentage terms, as the lender lost 8.72 per cent to close at N3 .35 kobo per share.
Mutual Benefit Assurance Plc dipped 7.44 per cent to close at N0. 25 kobo per share, while ABC Transport Plc fell 6.25 per cent to close at N0. 30 kobo per share.
In the same vein, Pharmdeko Plc shed 5.98 per cent to close at N1.73 kobo per share, while FTN Cocoa Plc declined 5.88 per cent to close at N0. 32 kobo per share.
The NGX market activity chart showed that the financial services sector dominated the chart as Fidelity Bank Plc was the most active stock, trading 68.81 million units of share worth N219.24 million, while Guaranty Trust Holding Company (GTCO) closed as the most valuable equity on the NGX with 23.95 million units of shares valued at N621.97 million.
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