Equities market gains N1.4trn amid impressive corporate earnings
The Nigerian equities market on Wednesday gained N1.4 trillion, driven by strong Q4 earnings reports from key companies.
The Nigerian Exchange Limited All Share Index (NGX ASI) gained by 2,128.61 points, or 1.28 per cent to close at 168,030.18 points. Accordingly, market capitalisation rose by N1.366 trillion to close at N107.861 trillion.
Market sentiment closed positive with 53 gainers outpacing 26 losers. Berger Paints Nigeria, Daar Communications, R.T. Briscoe and Fortis Global Insurance recorded the highest price gain of 10 per cent each to close at N66.00, N1.87, N10.45 and 22 kobo respectively, per share.
First HoldCo followed with a gain of 9.92 per cent to close at N48.75, while Zichis Agro-Allied Industries rose by 9.88 per cent to close at N5.56, per share.
On the other hand, DEAP Capital Management & Trust and Red Star Express led the losers’ chart by 9.97 per cent each to close at N6.86 and N17.15 respectively, while McNichols followed with a decline of 9.93 per cent to close at N6.53, per share.
eTranzact International declined by 9.89 per cent to close at N16.85, while Omatek Ventures depreciated by 9.89 per cent to close at N16.85, per share.
However, the total volume traded dropped by 5.66 per cent to 694.788 million units, valued at N20.569 billion, and exchanged in 42,095 deals. Transactions in the shares of Chams Holding Company topped the activity chart with 57.444 million shares valued at N256.313 million. Universal Insurance followed with 56.223 million shares worth N88.757 million, while First HoldCo traded 35.330 million shares valued at N1.671 billion.
DEAP Capital Management & Trust traded 26.788 million shares valued at N187.003 million, while Wema Bank sold 26.662 million shares worth N674.586 million.
