Nigerian stocks Wednesday halted the two-day loss the week opened, with a cumulative gain of N50.264 billion, easily reversing the 0.07 per cent depreciation the market saw at the preceding trade session.
Industrial goods and oil & gas stocks comprising WAPCO, Ardova, BOC, NNFM and CAP, as well as BOC Gases contributed the most to the rally.
The upbeat outcome also drew support from the Insurance Index, the biggest advancer of the five sectoral indices, which rose by 2.52 per cent to 281.49 index points.
Fifty five gainers emerged compared to 16 losers, helping trade to close with a positive breadth.
The All Share Index (ASI) edged up by 0.23% to close at 41,147.72 index points while market capitalisation jumped to N21.525 trillion.
Year to date, the index is down by 2.18 per cent.
TOP 5 GAINERS
NNFM led gainers, appreciating by 10 per cent to close at N8.80. Mutual Benefits grew by 10 per cent to end today’s trade at N0.55. Deap Capital went up by 10 per cent to N0.22. Royal Exchange rose to N0.44, notching up 10 per cent in the process. Sovereign Trust completed the top 5, climbing up by 10 per cent to N0.33.
TOP FIVE LOSERS
Mansard topped the losers’ chart, declining by 10 per cent to close at N1.53. Sunu Assurance shed 10 per cent to end today’s trade at N0.90. Japaul Gold fell to N1.16, losing 9.38 per cent in the process. Afromedia dipped to N0.20, recording 9.09 per cent depreciation. Omatek closed at N0.21, going down by 8.70 per cent.
TOP FIVE TRADES
Trade volume was up by 23.7 per cent, with 649.650 million shares estimated at N4.612 billion were traded today in 6,296 deals.
Mutual Benefits was the most active stock with 52.106 million of its stocks worth N28.653 million traded in 84 deals. 51.654 million units of Transcorp shares priced at N66.117 million exchanged hands in 81 transactions. Sterling Bank had 48.119 million shares valued at N94.297 million traded in 62 deals. WAPCO traded 34.670 million shares estimated at N900.091 million in 518 transactions. UAC Property traded 30.727 million shares valued at N22.983 million in 118 deals.
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