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Stock Market Gains N73.24bn on Wednesday



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  • Stock Market Gains N73.24bn on Wednesday

Investors at the Nigerian Stock Exchange gained N73.24 billion on Wednesday as positive sentiment remains moderate.

The market capitalisation of listed equities expanded by N73.24 billion to close at N11.917 trillion.

While the NSE All-Share Index gained 0.62 percent to settle at 22,868.40 basis points.

NSEThe total volume of shares traded grew by 4.05 percent to 277.42 million units valued at N2.548 billion but traded in 4,464 transactions. The value of shares traded declined by 7.44 percent when compared with Tuesday’s closing value.

FBNH emerged the most traded equities by volume at 56.62 million shares, while the UBA trailed FBNH with 52.76 million shares.

A total of 14 stocks closed in the green with Vitaform leading with 10 percent gain against 12 stocks that closed in the red.

Sectorial performance shows all sectors of the market closed in the green with the oil and gas and consumer goods sectors gaining the most, both appreciated by 0.43 percent and 0.42 percent respectively as ARDOVA and INTBREW gained 9.95 percent and 4.35 percent.

Top Gainers

Vitaform led top gainers with 9.98 percent to close at N4.96 per share. ARDOVA,  formerly Forte Oil, advanced by 9.95 percent to close at N10.5 percent, while UACN, WAPCO and MTNN expanded by 9.68 percent to close at N6.8; 2.68 percent to close at N11.5, and 2.38 percent to settle at N107.4, respectively.

Top Losers

On the other hand, Eterna emerged as the biggest loser with a decline of 9.62 percent to close at N2.16 per share. UPL also followed with 7.62 percent decline to close at N0.97; CORNERST dipped by 6.78 percent to settle at N0.55; CAVERTON valued decreased by 2.13 percent to close at N2.3 per share and ZENITH BANK added another 1.01 percent decline to close at N14.7 per a unite share.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.