Bull on the rampage as investors’ wealth climbs by N992bn

The Nigerian stock market closed on Wednesday higher in a yet another significant bullish session, making it back to back gains, from which the market capitalisation advanced by about 1 trillion naira.

The All Share Index rose by 3.13% to close at 59,985.10 points away from the previous close of 58,163.59 points.

Market capitalisation on Wednesday grew by 3.13% to close at N32.662 trillion away from the last close of N31.670 trillion on Tuesday, adding N992 billion.

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

Market Breadth

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

Percentage Gainers

Dangote Sugar, International Breweries, Seplat, Sterling Bank, Transcorp Hotel, FBNH and MTN Nigeria led the green table, gaining 10.00% each of their share prices.

TOTAL Energy also led 25 other stocks that gained over 9.00% of their share prices.

Percentage Losers

PHARMADEKO led price decliners’ chart as it shed 9.65% of it share price to close at N2.06 from the previous close of N2.28.

CWG, Northern Nigerian Flourmill and BUACEMENT among other price decliners also shed their share prices by 9.44%, 8.66% and 6.52% respectively.

Volume Drivers

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.

Zenith Bank traded about 119 million units of its shares in 859 deals, valued at about N4 billion.

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