Equities market bullish run hits top gear as investors gain N118bn in five hours

Investors in the Nigerian equities market gained N118 billion at the close of trading on Wednesday.

This followed the surge in the share prices of stocks such as Guinness, Austin Laz and International Breweries, among others, on the trading floor.

The benchmark All-Share Index (ASI) surged to 153,539.83 points from the 153,354.13 points recorded the previous day.

After five hours of trading at the capital market, the equity capitalisation surged to N97.8 trillion from N97.7 trillion posted by the bourse on Tuesday.

The market breadth was flat with 36 stocks advancing, 22 stocks declining, and 92 stocks remaining unchanged in 19,372 deals.

An aggregate of 19,3727 units of shares was traded, valued at N30 billion.

Guinness, Austin Laz and International Breweries led the gainers with 9.98%, 9.97% and 9.85% growth each in share prices, respectively, to close at N318.60, N3.20, and N14.50 per share, up from the previous N289.70, N2.91, and N13.20 per share.

READ ALSO:Nigeria’s stock market recovers as investors gain N240bn

Legend Internet, Mansard and Jaiz Bank led other price decliners with a 9.26%, 7.14%, and 5.45% dip each in share price to close at N4.90, N13.00, and N4.51 per share, down from the previous N5.40, N14.00, and N4.77 per share

On the volume index, Abbey Mortgage Bank Plc led trading with 1.1 billion shares in 13 deals, followed by Sterling Bank, which traded 127 million shares in 192 deals.

Custodian traded 115 million shares in 85 deals.

On the value index, Abbey Mortgage Bank Plc traded stocks valued at N7 billion in 13 deals, followed by Custodian, which traded equities worth N4.4 billion in 85 deals.

First Holding Co traded shares valued at N2.1 billion in 891 deals.

Babajide Okeowo

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