Nigerian stocks were up by 1.73 per cent or N417.2 billion on Wednesday in extension of the rebound that occurred at the preceding session as the most capitalised telecom and energy stocks – Airtel and Seplat Energy – saw investors bet big on their shares.
The African unit of New Delhi-based Bharti Airtel is now Nigeria’s biggest wireless operator by market value and the second largest firm on the Nigerian Exchange after toppling rival MTN Nigeria.
Market breadth, which gauges the depth of investors’ attitude towards trade, was negative with 17 losers recorded compared to 16 advancers.
The all-share index leapt by 774.25 basis points to 45,430.14, while market capitalisation closed higher at N24.5 trillion.
Year to date, the index has yielded 6.35 per cent.
TOP FIVE GAINERS
Airtel Africa led gainers, appreciating by 10 per cent to close at N1,155.50. Cornerstone went up by 6 per cent to N0.53. Courteville rose to N0.40, notching up 5.26 per cent.
Union added 5.85 per cent to end the trade at N4.86. Seplat completed the top 5, climbing by 4.36 per cent to N720.10.
TOP FIVE LOSERS
FTN Cocoa was the worst performing stock, declining by 7.69 per cent to close at N0.36. Consolidated Hallmark shed 7.25 per cent to close at N0.64.
Regal Insurance fell to N0.42, losing 6.67 per cent. Japaul Gold slumped to N0.40, recording 4.76 per cent depreciation. Jaiz Bank closed at N0.63, going down by 4.55 per cent.
TOP 5 TRADES
Altogether, 252.9 million shares estimated at N8.9 billion were traded in 4,218 deals.
GTCO was the most active stock for the second day running with 25.5 million units of its stocks worth N649.4 million traded in 555 deals. Dangote Cement’s shares numbering 2.9 million and priced at N6.5 billion exchanged hands in 223 transactions.
FBN Holdings had 23.1 million shares valued at N277.2 million traded in 124 deals. Fidelity traded 21.1 million shares estimated at N57.2 million in 150 transactions. FCMB traded 12.9 million shares valued at N38.8 million in 43 deals.
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