MTN, Guinness, Zenith Lead Losers as Stock Market Gains N61bn

The Nigerian Stock Exchange (NSE) rebounded on Wednesday as positive sentiment fueled renewed interest in the market following days of bearish trends.

The market capitalisation of listed equities expanded by N61 billion from N12.769 trillion it closed on Tuesday to N12.830 trillion on Wednesday. While the NSE All-Share Index gained 0.47 percent from 24,595.05 basis points attained on Tuesday to close at 24,479.22 bps on Wednesday.

However, activity level was low as investors traded 198.011 million shares valued at N1.036 billion in 3,772 deals during the trading hours of Wednesday. This was lower than the 280.667 million shares worth N3.138 billion that were exchanged in 4,464 transactions on Tuesday.

In terms of volume traded, WAPIC led with 30.278 million shares valued at N11.196 million. This was followed by 22.787 million shares worth N79.677 million from UPDCREIT.

UBA, Transcorp and Chams added 20.201 million shares, 19.380 million shares and 11.653 million shares valued at N123.511 million, N12.758 million and N2.589 million, respectively.

Top Gainers

BUA Cement led top gainers with N3.3 or 8.53 percent gain to close at N42 per share. Cadbury came second with 65 kobo or 9.63 percent profit to settle at N7.4 percent per share.

This renewed bullish trend included WAPCO that added 50 kobo or 5 percent to close at N10.5 per share. Sterling Bank and Pz appreciated by 12 kobo 0r 9.60 percent and 1 kobo or 2.50 percent to close at N1.37 per share and N4.1 per share, respectively.

Top Losers

MTN Nigeria led top losers with N1.50 or 1.28 percent decline to close at N116 per share. This decline continues as Guinness and Zenith Bank depreciated by 50 kobo or 3.45 percent and 40 or 2.48 percent to call it a day at N14 per share and N15.7 per share, respectively.

Flour Mills and Dangote Sugar added 35 kobo or 1.84 percent and 30 kobo or 2.50 percent decline to the table to close at N18.65 per share and N11.7 per share, respectively.