Stock market gains N186bn on increased buying interest
By Taiye Olayemi
The Nigerian Stock Market extended its positive trend, appreciating by N186 billion amid increased buying interest.
Market capitalisation rose by N186 billion or 0.27 per cent to close at N68.543 trillion, compared with N68.357 trillion on Tuesday.
Similarly, the All-Share Index (ASI) also increased by 296.72 points or 0.27 per cent, to settle at 109,059.33.
The uptrend was driven by strong buying interest in medium and large capitalised stocks such as McNichols Consolidated Plc, Northern Nigeria Flour Mills, Champion Breweries, Caverton Offshore Support Group and 30 other stocks.
Meanwhile, the market breadth also closed positive with 34 gainers and 24 losers.
On the gainers’ chart, McNichols Consolidated Plc increased by 10 per cent to close at N1.76 while Northern Nigeria Flour Mills also rose by 10 per cent, closing at N99.55 per share.
Champion Breweries soared by 9.91 per cent, settling at N6.10 and Caverton Offshore Support Group gained by 9.78 per cent, finishing at N4.04 per share.
Similarly, FTN Cocoa Processors grew by 9.65 per cent, closing at N2.50 per share
On the losers’ chart, Multiverse Mining fell by 9.63 per cent, settling at N9.85 while Legend Internet Plc dropped by 5.41 per cent to close at N8.40 per share.
Veritas Kapital Assurance shed by 4.76 per cent, finishing at N1 and Transcorp declined by 4.65 per cent, ending the session at N44.10 per share.
Also, Ikeja Hotel lost by 3.75 per cent, closing at N12.85 per share.
A total of 531.29 million shares worth N19.81 billion were exchanged across 14,870 transactions.
This is compared to 498.48 million shares worth N10.781 billion that was exchanged across 14,916 transactions earlier.
Transactions in the shares of Guaranty Trust Holding Company topped the activity chart with 53.27 million shares worth N3.68 billion.
Access Corporation followed with 51.90 million shares valued at N1.11 billion while Fidelity Bank transacted 40.55 million shares worth N834.83 million.
Nigerian Breweries traded 35.76 million shares valued at N1.94 billion and Zenith Bank sold 27.35 million shares worth N1.32 billion. (NAN)(www.nannews.ng)
Edited by Olawunmi Ashafa
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