Equities market sustains gain with N315bn

The Nigerian stock market extended its positive momentum on Wednesday, marking the fifth consecutive bullish session.

The market’s upward movement was driven by gains in equities like: Sovereign Trust Insurance, Champion Breweries, Livestock Feeds, Learn Africa, Mutual Benefits and 29 other stocks.

The market capitalisation increased by 0.20 per cent, adding N315 billion to investors’ portfolio as the market opened at N158.399 trillion and closed higher at N158.714 trillion.

Similarly, the All-Share Index (ASI) rose by 0.20 per cent, advancing by 487.28 points to close at 244,791.79, compared to 244,304 51 recorded on Teusday.

Consequently, the market’s Year-to-Date return improved to 57.31 per cent.

Also, the market breadth closed positive with 34 gainers against 26 losers.

On the gainers’ chart, Sovereign Trust Insurance led by 9.69 per cent, closing at N2.15, Champion Breweries followed by 9.50 per cent, finishing at N10.95 while Livestock Feeds increased by 9.42 per cent, ending the session N7.55 per share.

Similarly, Learn Africa gained by 9.09 per cent, settling at N8.40 and Mutual Benefits advanced by 8.93 per cent, closing at N3.05 per share.

Conversely, Industrial and Medical Gases led the losers’ chart by 9.93 per cent, settling at N27.65, John Holt trailed by 9.88 per cent, finishing at N7.30 while Livingtrust Mortgage Bank lost by 9.84 per cent, ending the session at N2.84 per share.

Also, Fidson Healthcare declined by 9.19 per cent, closing at N72.65 and Royal Exchange dipped by 9 per cent, finishing at 91k per share.

Market activity strengthened during the session, with total volume traded rising by 27.23 per cent to 662.43 million shares, valued at N37.45 billion in 63,271 deals.

Sterling Nigeria led trading volume with 142.04 million shares, accounting for 21.44 per cent of the total.

Guaranty Trust Holding Company recorded the highest value traded at N5.27 billion, representing 14.07 per cent of the day’s total.