Equities market returns to bullish activities, gains N505bn

Transactions on the floor of Nigerian Exchange (NGX) on Wednesday returned to bullish run, appreciating by N505 billion.

Although the market was dominated by bears, the gains recorded in the shares of Buafoods, Eterna, United Capital, MRS, Honey Well Flour Mills, Nascon, Afriprudential outweigh losses in the shares of UPL, Union Dicon Daar Communications, International General Insurance among others.

This resulted in market capitalisation of listed equities increasing by 0.75 per cent to close at N67.684 trillion from N67.179 trillion reported the previous day.

The NGX All Share Index also appreciated by 938.53 basis points to 108609.51 points from 107670.98 points traded on Tuesday.

The year-to-date return increased to 5.52 per cent as market recorded 25 advancers against 28 decliners.

Analysis of the investment during the day showed that BuaFood led gainers table with a 10 per cent to close at N410.50 per unit, RTBriscoe followed with a gain of 6.91 per cent to close at N2.63 per share, Eterna Plc gained 6.25 per cent to close at N42.50 per unit, SUNU Assurance gained 6.13 per cent to close at N6.92 per unit, Veritas Kapital added 6.03 per cent to close at N1.23 per share.

On the contrary, UPL and International General Insurance topped losers’ chart, declining by 9.80 per cent each to close at N4.60 and N2.21 per share respectively. Union Dicon trailed with a drop of 9.52 per cent to close at N6.65 per unit, Mcnichols dipped by 8.57 per cent to close at N1.60 per unit, Daar Communications down by 7.25 per cent to close at N0.64 per share.

Volume of trades declined by 65.001 million representing 15.90 per cent as investors traded 343.718 million shares valued at N8.631 billion in 12970 deals against 408.719 million shares cost N11.261 billion exchanged hands the previous day in 14174 deals.

Transactions in the shares of AccessCorp led market activities with 65.095 million shares valued at N1.800 billion, Fidelity Bank followed with account of 50.687 million shares valued at N962.543 million, Zenith Bank exchanged 22.090 million shares worth N1.118 billion, Sterling Bank exchanged 13.168 million shares valued at N78.062 million while Wapic Insurance traded 13.076 million shares cost N37.934 million.