Nigeria’s domestic equity market on Wednesday took a positive turn, gaining N358 billion as profits recorded in the shares of Dangote Sugar, Transnational Corporation of Nigeria, United Bank for Africa, AccessCorp, Oando Plc and others impacted positively on the market.
The market capitalisation of listed equities gained 0.98 per cent to N36.896 trillion from N36.538 trillion reported the previous day.
The NGX All Share Index also appreciated by 654.20 basis points to 67414.40 points from 66760.20 points traded on Tuesday.
A review of the investment during the day showed that four companies closed trading for the day with 10 percent gain.
Dangote Sugar Refinery, Nahco, United Capital, and Nascon led gainers table, growing by 10 per cent each to close at N57.20 per unit, N23.65, N16.50 and N51.70 per share respectively, Transnational Corporation of Nigeria followed with a gain of 9.98 per cent to close at N6.61 per unit.
On the contrary, Courtvellle Business Solutions topped losers’ chart with a drop of 10 per cent to close at N0.54 per unit, ABC Transport trailed with a loss of 9.80 per cent to close at N0.92 per unit, Tantalizer fell by 9.30 per cent to close at N0.39 per share, Learn Africa depreciated by 8.51 per cent to close at N3.01 per unit while Regal insurance dipped by 8.33 per cent to close at N0.33 per unit.
The volume of activities declined by 75.914 million representing a drop of 11.76 per cent as investors exchanged 569.626 million shares valued at N8.697 billion in 8404 deals against 645.540 million shares cost N11.014 billion exchanged hands the previous day in 10554 deals.
Transactions in the shares of Oando led market activities with 143.445 million shares valued at N1.395 billion, AccessCorp followed with account of 63.556 million shares worth N1.070 billion, Fidelity Bank traded 39.553 million shares cost N313.782 million, Transcorps exchanged 32.610 million shares worth N209.175 million while 30.676 million shares valued at N464.755 million.
