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Equities regain strength as investors net N134bn gain

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MTN Gains, Nestle Declines as WOOTs Market Cap Adds N42 billion

Share trading on the floor of the Nigerian Stock Exchange (NSE) returned to the green territory as the market closed the midweek session on Wednesday positively with N134 billion gain.

This was a sharp turn from previous bearish days during which negative sentiment had taken toll on equities investments amidst half year performance results being filed by listed companies in the market.

During the midweek trading session however, no single financial report was released at the bourse for the perusal of the investing community. However, massive gain of N134 billion was recouped by investors.

According to the trading data plucked from the Nigerian bourse, consequent of the day’s gain, the All-Share index added 257.78 points, equivalent to 1.04 per cent appreciation to close at 25,141.48 basis points.

Similarly, the monetary of the Nigerian equities market surged in the same percentage point to close the session higher at N13.115 trillion from N12.981 trillion it opened the day.

While volume of trade was almost flat with a paltry 0.49 per cent fall, the turnover value for the session went up significantly by 52 per cent. Market breadth also threaded the green lane with the emergency of 18 gainers against 11 decliners while 14 other tickers closed flat.

In order of appearance, SEPLAT Plc led other gainers with N35 gain in price to close at N385 per share. Airtel Africa followed with N32 gain to close at N380 while PRESCO, OKOMUOIL and GUINNESS appreciated in price by N3.5, N3 and N0.90 to close at N51.50, N80 and N15.40 per share respectively.

On the flip side, BUACEMENT lost the most value at N0.25 to close at N38.7; Access Bank fell by N0.15 to close at N6.40 per share. Other decliners include ZenithBank, Champion and ETI, shedding N0.10, N0.08 and N0.05 to close at N16.75, N0.78 and N4.10 per share respectively.

The improved turnover volume and value of the session was chiefly pumped up by the shares of GUARANTY as investors exchanged 66.252 million shares of the company, valued at N1.646 billion.

In terms of traded value, Okomuoil followed by trading 5.264 million share units worth N418.586 million while Airtel Africa occupied the third place with N321.027 million realized by trading 845,734 shares.

Measured by volume of trade however, AccessBank followed GUARANTY with traded 24.005 million shares worth N155.812 million; followed by Zenith Bank which traded 15.209 million shares worth N255.328 million.

Collectively, investors closed the session with 205 million traded shares valued at N3.830 billion in 3,636 transactions relative to 206 million shared worth N2.5 billion that exchanged hands in the previous session.

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