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Stock record N5bn marginal gain to close midweek

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Seizing the entry opportunity during the Easter holiday-shortened week, the equity market posted 1.98 per cent growth, equivalent to N500 billion profit for investors in the market.

Nigerian equities on Wednesday rose marginally by 0.03 per cent amid sustained bargain hunting activity.

The All-Share Index (ASI) increased by 8.41 absolute points, representing a growth of 0.03 per cent to close at 30,741.88 points.

Similarly, investors gained N5 billion as market capitalisation advanced to N16.068 trillion at the end of the session.

The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Chemical and Allied Products (CAP), FCMB Group, Guaranty Trust Bank, Dangote Sugar Refinery and Caverton Offshore Support Group

The total volumes traded decreased by 14.8 per cent to 286.45 million units, valued at N3.09 billion and exchanged in 2,889 deals.

ACCESS was the most traded stock by volume and value at 145.01 million units and N1.17 billion, respectively.

On sectors, the Insurance (+1.0 per cent), and Consumer Goods (+0.1 per cent) indices recorded gains, while the Industrial Goods, Banking and Oil & Gas indices were flat.

Market sentiment, as measured by market breadth, was positive  as 12 tickers gained, relative to 11 losers.

CHIPLC (+8.8 per cent) and PRESTIGE (+7.4 per cent) topped the gainers list, while MBENEFIT (-4.8 per cent ) and WEMABANK (-3.1 per cent) recorded the largest losses of the day.

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