Trading activities on the floor of the Nigerian Stock Exchange on Wednesday closed on a positive note as the All Share Index rose further by 1.03%, closing at 24,452.23 points from the previous close of 24,202.87 points on Tuesday.
Investors gained N130 billion as the Market Capitalisation appreciated by 1.03% to settle at N12.743 trillion from the previous close of N12.613 trillion. An aggregate of 436.84 million units of shares were traded in 5,195 deals, valued at N5.41 billion.
Positive sentiment in the capital market can be attributed to the upward movement in global oil price. Reacting to the factors responsible for the vibration in the capital market, Mr Aruna Kebira, Chief Dealer of Global View Capital Limited, stated thus:
“The World oil price benchmarks WTI and Brent crude are trading at $35 per barrel. There is no more glut in the high seas and no Nigeria oil laden cargo ship is idling away on the high sea. Brighter pricing for the black gold in the intermediate term is possible”.
These factors according to him are responsible for the current market vibration.
Market Breadth
The market breadth closed positive as 37 equities appreciated in their share prices while 5 equities declined in their share prices.
Percentage Gainers
Red Star Express Plc led other percentage gainers with 10% growth, closing at N3.41 from the previous close of N3.10.
Jaiz Bank, LASACO, Wapic Insurance, Transcorp and Caverton among other gainers also grew their share prices by 9.09%, 8.70%, 6.90%, 5.48% and 5.45% respectively.
Percentage Losers
Unity Bank led other price decliners, shedding 3.85% of its share price to close at N0.50 from the previous close of N0.52.
Other price decliners include Union Diagnostics (-3.23%), WAPCO (-2.65%), Wema Bnak (-1.72%) and Access Bank (-0.76%) respectively.
Volume Drivers
- Zenith Bank traded about 75.07 million units of its shares in 687 deals, valued at N1.2 billion.
- Access Bank traded about 50.76 million units of its shares in 226 deals, valued at N329 million.
- Guinness Nigeria traded about 34.2 million units of its shares in 271 deals, valued at N581.9 million.