Stock Investors Gain N344bn on Wednesday

• Stock Investors Gain N344bn on Wednesday

The Nigerian Stock Exchange closed in the green on Wednesday to sustain five days of consecutive gains.

Despite restricted movement and rising number of COVID-19 confirmed cases, stock traders raked in N344 billion on Wednesday.

The market capitalisation of listed equities rose by N344 billion from N11.402 trillion to N11.746 trillion on Wednesday.

While the NSE All-Share Index, that measures the market breadth, grew by 3.02 percent or 659.99 basis points to 22,539.94 basis points, up from 21,879.95 basis points.

The activity level was positive as investors traded a total of 326.44 million shares in 5,166 transactions.

In terms of volume traded, the premium subsector dominated with 183.46 million shares exchanged in 2,404 deals. Surged in activities of FBNH Plc and Zenith Bank Plc stocks boosted the subsector.

This was followed by the banking subsector that expanded on the renewed interest in both GTBank and Fidelity Bank Plc with 65.17 million shares exchanged in 910 deals.

Top gainers were Champion Breweries Plc, Dangote Cement Plc and Neimeth Pharmaceuticals Plc that gained 10 per cent each to close at 88 kobo, N133.10, 55 kobo per share, respectively.

Oando Plc trailed them with 9.85 per cent to call it a day at N2.90 per share while the Nigerian Breweries Plc added another 9.84 per cent profit to close at N26.80 per share.

On the losing side, ARBICO Nigeria Plc led with a drop of 9.82 per cent to close at N2.57 per share. Wema Bank Plc came second with a decline of 9.68 per cent to close at 56 kobo per share while Cutix Plc dipped by 9.09 per cent to close at N1.20 per share.