Nigerian stocks were 0.18 per cent up on Wednesday, wiping out the loss of the session before as traders’ renewed jostle for the shares of Dangote Cement, Nigeria’s biggest company by market value, ahead of its stock repurchase restart provided the timely catalyst needed to return a market, which recently halted a stretch of losses, to the winning way.
Also aiding gains were an appreciation in Zenith’s shares and a climb in the insurance, the best performer of the five sectorial indexes tracked by the NGX Exchange, by 0.76 per cent to 209.04 basis points.
But market breadth closed in the negative after 20 laggards were reported compared to 15 advancers.
The all-share index lifted by 68.15 points to at 38,482.52, while market capitalisation scaled up to N20.058 trillion.
The index is down by 4.44 per cent year to date.
TOP FIVE GAINERS
UPL led gainers, appreciating by 9.38 per cent to close at N1.40. Regal Insurance grew by 8.16 per cent to end trade at N0.53. Veritas Kapital went up by 5 per cent to N0.21. Consolidated Hallmark rose to N0.75, notching up 4.17 per cent in the process. Royal Exchange traded up 3.90 per cent to N0.80.
TOP FIVE LOSERS
CWG topped the losers’ chart, declining by 9.66 per cent to close at N1.87. Ikeja Hotel shed 9.09 per cent to end today’s trade at N1. NASCON fell to N13.50, losing 8.78 per cent in the process. John Holt slumped to N0.53, recording 8.62 per cent depreciation. Linkage Assurance closed at N0.55, going down by 8.33 per cent.
TOP FIVE TRADES
Altogether, 156.906 million shares estimated at N1.329 billion were traded in 3,273 deals.
Japaul was the most active stock with 19.949 million of its shares worth N11.406 million traded in 74 deals. FBN Holdings traded 12.225 million shares priced at N87.891 million in 118 transactions. Transcorp had 11.842 million shares valued at N10.446 million exchange hands in 54 deals. UACN traded 10.807 million shares estimated at N11.887 million in 117 transactions. Fidelity traded 9.836 million shares valued at N21.852 million in 134 deals.
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