Equities market capitalization adds N343bn in 5 days

As economic optimism continue to drive demand for equities, the positive trend in the Nigerian equities market has extended to the 5th consecutive day, with market capitalization accumulating N343.3 billion in five days.

Lead Market Indices grew by 0.17 per cent, as market Capitalisation closed at N11.887 trillion, while the NSE’s Al- Share Index (ASI) ended the day at 34,375.60 points.

May & Baker led the day’s 25 gainers with an increase of 10.18 per cent to close at N5.52 per share. Julius Berger and Cement Company of Northern Nigeria were next with an increase of 10.15 per cent each to close at N43.84 and N10.74, respectively. Wema Bank followed with a gain of 9.84 per cent to close at 67 kobo and Neimeth gained 8.45 per cent to close at 77 kobo per share.

Topping the day’s 27 losers’ chart, was Jaiz Bank, with a decline of 5.88 per cent to close at 80 kobo. Forte Oil trailed with a loss of 5.25 per cent to close at N50.04 while Fidson declined by 4.85 per cent to close at N3.14 per share.

Champion Breweries was down by 4.84 per cent to close at N2.95, while GlaxoSmithKline depreciated 4.82 per cent to close at N20.55 per share.

At the end of the day’s transactions, volume of shares traded in 5411 deals, declined to 392.2 million shares against 482.5 million shares traded in 5771 deals on Tuesday. Value traded also reduced to N4.206 billion, from N5.682 billion traded on Monday.

Transcorp topped activity chart with 58.0 million shares, traded worth N102.5 million, Zenith Bank was next with 47.7 million shares, valued at N1.1 billion; and Skye Bank exchanged 39.8 million shares worth N32.0 million.