Stock Market Rallies To N33.08bn Gain
The Equities market rallied on Wednesday as the Nigerian Exchange Limited (NGX) closed trading bullish.
A key market indicator, the All-Share Index (ASI) 61.39 index points or 0.13 per cent to close at 46,904.48 points up from 46,843.09 points the previous trading session.
Also the market capitalization, representing the total value of all listed stocks appreciate by N33.08 billion or 0.13 per cent to stand at N25.27 trillion compared to N25.24 trillion reporter on Tuesday.
The bullish trend of the market was buoyed by gains recorded in the stocks of Cornerstone Insurance Plc, Ikeja Hotel Plc, Eterna Plc, Meyer Plc and Chams Plc.
The market turnover decreased by 6.1 per cent as investors bought and sold a total of 201.2 million units of shares valued at N 2.62 billion in 4,017 deals as against 214.33 million units of shares worth N1.79 billion in 4,125 deals traded the previous trading session.
The market breadth closed negative with seventeen losers and sixteen gainers as against eighteen laggard equities and sixteen stocks recording appreciations the previous trading session.
The gainers’ table was led in percentage terms by Cornerstone Insurance Plc, as the Insurer leapt by 10 per cent to close at N0. 66 kobo per share.
Also, hospitality firm, Ikeja Hotel Plc saw its stocks rising 10 per cent to close at N1. 32 kobo per share, while Eterna Plc jumped 9.82 per cent to close at N5. 48 kobo per share.
Similarly, Meyer Plc and Chams Plc recorded 9.09 per cent and 5 per cent to close at N0. 60 kobo and N0. 21 kobo per share respectively.
Conversely, the losers’ table was dominated in percentage parameters by consumer goods giant, Cadbury Nigeria Plc, losing 6.67 per cent to close at N8. 40 kobo per share.
Also, Japaul Gold Plc fell 5.88 per cent to close at N0. 32 kobo oer share, while PZ Cussons Plc shed 5.36 per cent to close at N10. 66 kobo per share.
In the same vein, Royal Exchange Plc and Coronation Insurance Plc depreciated 5.22 per cent and 4.17 per cent to close at N1. 09 kobo and N0. 46 kobo per share respectively.
Ecobank Transnational Incorporated (ETI) olc closed the NGX market cacti to chart as both tthe most and active and valuable equity, as the lender traded a total of 61.89 million units of shares valued at N742.03 million, while Acess Holcombe Plc followed with 29.47 million shares worth N29.49 million and Zenith Bank Plc was in third place in terms of volume of shares traded, trading 15.83 million shares valued at N361.79 million.
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