Equities market transacts 1.75bn shares worth N30.05bn

The equities market traded 1.746 billion shares valued at N30.05 billion in 19,372 deals on Wednesday.

This is compared with 677.4 million shares worth N20.8 billion recorded on Tuesday across 27,589 transactions.

This reflected 158 per cent increase in volume, 40 per cent growth in value, and 30 per cent decline in deals.

Meanwhile, the activity chart revealed Abbey Mortgage Bank to have recorded the highest market volume and value with 1.12 billion shares traded at N7.07 billion.

The Nigerian equities market closed the week on a positive note, gaining N119 billion or 0.12 pfer cent, thereby boosting investor portfolios.

Sustained investors interest in heavyweight stocks like Guinness Nigeria, Austinlaz, International Breweries, Transcorp Hotel, Aluminium Extrusion Industries and 31 other advancing stocks drove the market to positive terrain.

The Nigerian Exchange Ltd. (NGX) market capitalisation rose from N97.771 trillion at opening to N97.890 trillion at Wednesday’s close.

Similarly, the All-Share Index (ASI) advanced by 0.12 per cent or 185.69 points, closing at 153,539.83 compared with 153,354.14 recorded on Tuesday.

Consequently, the year-to-date (YTD) return rose to 49.17 per cent and the market breadth closed positive, recording 36 gainers against 23 losers.

Guinness Nigeria led the gainers’ chart by 9.98 per cent, settling at N318.60, Austinlaz trailed by 9.97 per cent, finishing at N3.20 while International Breweries climbed by 9.85 per cent, closing at N14.50 per share.

Also, Transcorp Hotel grew by 9.83 per cent, ending the session at N170.90 and Aluminium Extrusion Industries increased by 9.73 per cent, finishing at N16.35 per share.

Conversely, Legend Internet led the losers’ chart by 9.26 per cent, closing at N4.90, Mansard Insurance followed by 7.14 per cent, settling at N13 while Jaiz Bank dropped by 5.45 per cent, ending the session at N4.51 per share.

Similarly, MTN Nigeria fell by 5.21 per cent, closing at N504 and NEM Insurance shed by 4.74 per cent, ending the session at N24.10 per share.