Equities investments gain N338.1bn in 8 days

Investors at the Nigerian equities market has garnered a total of N338.1 billion in eight consecutive trading sessions at the local bourse.

Market capitalization that measures the total value of investors’ worth, closed at N8.910 trillion as at Thursday April 29th, and increased to N9.249 trillion on Tuesday 9th May, representing an increase of N338.1 billion or 3.8 percent.

The All Share Index also maintained an upward trajectory, posting an increase of over 1000 basis points from 25,753 basis points, posted eight trading sessions ago to settle at 26,756.21 points on Tuesday.

Performance increased the ASI Month to date gain to 3.86 percent and reduced the Year-to-Date loss to 0.42 percent.

Oando remained at the top of the gainers list which had 34 companies on Tuesday. The stock appreciated 10.14 percent to close at N8.69 per share.

Fidson followed with a gain of 9.52 percent to close at N1.84, while Transcorp gained 7.14 percent to close at N1.05 per share.

May & Baker rose by 5.94 percent to close at N1.07, while Portland Paints garnered 4.95 percent to close at N1.91 per share.

On the other hand, eight stocks led by Linkage Assurance depreciated in price. Linkage Assurance lost 3.70 percent to close at 52 kobo.

Dangote Sugar lost 3.58 percent to close at N6.46, while Total shed 2.35 percent to close at N249 per share.

Wapco dipped 2.22 percent to close at N48.50, while 7up declined by 1.82 percent to close at N102 per share. FCMB was the toast of investors on Tuesday, accounting for 243.9 million shares worth N239.4 million.

Zenith Bank exchanged 52.3 million shares valued at N856.2 million, while UBA traded 42.5 million shares worth N274.5 million.

Diamond Bank sold 33.9 million shares worth N29.0 million and FBN Holdings exchanged 22.8 million shares valued at N81.3 million.

In all, investors staked N2.8 billion on 539 million shares in 4,519 deals compared to N3.3 billion staked on 267.6 million shares traded in 3,907 deals in Monday’s session.