Stock market sustains gains with 0.07% growth

Equities trading on the Nigerian Stock Exchange remained upbeat as lead market indices increased by 0.07 percent on Wednesday.

The NSE All Share Index (ASI) that closed the day at 25,301.23 points, was strengthened by 16.67 points while market capitalization grew by N6 billion to close at N8.756 trillion.

Investors consequently staked N2.2 billion on 233.8 million units of shares traded in 3,196 deals as against 227.8 million units of shares valued at N928.5 million traded by investors in 2,543 deals on Tuesday.
Topmost at the gainers table was Africa Prudential Registrars which rose 8.12 percent to close at N2.53 per share, Continental Reinsurance was next with a growth of 8.11 percent to close at N1.20 per share, Honeywell Flour Mills also added 5 percent to close at N1.05 per share. Unilever increased 4.95 percent to close at N33.90 and United Capital closed 4.83 percent higher to close at N2.82.

Nigerian Aviation Handling Company topped the day’s losers with a loss of 4.76 percent to close at N2 per share, Neimeth followed having shed 4.48 percent to close at 64 kobo per share, Forte Oil was next with a decline of 4.38 percent to close at N47.81 per share, Ashaka Cement dropped 3.47 percent to close at N10 per share, while Transcorp lost 2.70 percent to close at 72 kobo per share.

Top traded stocks for the day were Diamond Bank with N95.7 million shares worth N82.4 million, FBN Holdings was next with 42 million shares valued at N131.5 million while Fidelity Bank emerged the third most traded stock with 19.1 million units of shares worth N15.9 million.

United Capital and UBA also made it to the top five traded stocks for the day, having traded 11.2 million and 10.5 million units of shares each, worth N31.2 million and N54.5 million respectively.