Equity market records N1.19trn gain, led by Oando, Dangote Sugar
By Taiye Olayemi
The Nigerian stock market closed on a positive note Wednesday, adding N1.185 trillion to its value.
Market capitalisation surged by 1.57 per cent to reach N76.761 trillion, up from N75.576 trillion recorded on Tuesday.
Similarly, the All-Share Index (ASI) rose by 1,466.87 points, or 1.22 per cent, settling at 121,257.69 from its previous close of 119,790.82.
This uptrend was fuelled by strong buying interest in medium and large-capitalised stocks including Dangote Sugar, Oando, Cileasing, Champion Breweries and 59 other stocks.
Also, the market breadth closed positive, with 63 gainers and 17 losers.
On the gainers’ chart, Dangote Sugar rose by 10 per cent, closing at N48.40 while Oando Plc also increased by 10 per cent, settling at N68.75 per share.
Cileasing grew by 9.98 per cent, finishing at N5.18 and Champion Breweries soared by 9.98 per cent, ending the session at N10.91 per share.
Similarly, Computer Warehouse Group gained by 9.95 per cent, closing at N11.60 per share.
On the flip side, University Press dropped by 6.25 per cent, finishing at N6 while RT Briscoe fell by 6.12 per cent, closing at N2.30 per share.
Multiverse Mining declined by 4.89 per cent, settling at N8.75 and Meyer shed by 4.69 per cent, ending the session at N9.15 per share.
Also, Computer Warehouse Group lost by 4.15 per cent, closing at N3 per share.
A total of 861.67 million shares worth N26.18 billion were exchanged across 22,896 transactions.
This is compared to 868.68 million shares worth N23.71 billion shares that was were traded across 22,207 transactions earlier.
Transactions in the shares of Fidelity Bank topped the activity chart with 82.98 million shares worth N1.66 billion.
Caverton Offshore Support Group followed with 64.18 million shares valued at N319.69 million while Zenith Bank transacted 60.62 million shares worth N3.45 billion.
Ja Paul Gold traded 56.26 million shares valued at N115.35 million and Access Corporation sold 48.59 million shares worth N1.12 billion. (NAN) (www.nannews.ng)
Edited by Olawunmi Ashafa
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