The Nigerian equities market extended the bullish trend on Wednesday with investors taking home N779 billion at the close of the day’s trading.
This followed a surge in the share prices of stocks like VFD GROUP, IKEJA HOTEL, and HONEY FLOUR amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization rose to ₦67.2 trillion from ₦66.4 trillion posted by the bourse recorded on Tuesday.
The benchmark All-Share Index (ASI) increased to 107,822.51 points from 106,574.98 points recorded the previous day.
The market breadth was positive as 50 stocks advanced and 16 stocks declined, while 57 stocks remained unchanged in 15, 376 deals.
VFD GROUP, IKEJA HOTEL, and HONEY FLOUR led other gainers with 10%, 10,% and 9.99% growth each in prices to close at N52.80, N14.85, and N12.66 from the previous N48.00, N13.50, and N11.51 per share.
CWG, REGALINS, and LASACO led other price decliners with 8.95%, 7.89%, and 7.25% dip in share prices to close at N8.65, N0.70 and N3.20 from the previous N9.50, N0.76 and N3.45 per share.
On the volume index, STERLING NIGERIA led trading with 49 million shares in 374 deals followed by ELLAH LAKES which traded 34 million shares in 454 deals.
ZENITH BANK traded 25 million shares in 523 deals.
On the value index, ZENITH BANK traded stocks worth N1.3 billion in 523 deals followed by GTCO which traded equities worth N932 million in 305 deals.
ETERNA traded shares valued at N678 million in 408 deals.
By: Babajide Okeowo
