Equities market gains N116bn over investors renew interest in Conoil, 43 others

The equities market segment of the Nigerian Exchange Limited (NGX) traded positive on Wednesday as investors bargain hunting in Conoil Plc and 43 others drove the overall capitalisation N116 billion higher.

The All Share Index (ASI) gained by 213.93 basis points or 0.36 per cent to close at 59,323.95 points. Also, market capitalisation gained N116 billion to close at N32.302 trillion.

As measured by market breadth, market sentiment was positive, as 44 stocks gained relative to 25 losers. Afromedia recorded the highest price gain of 10 per cent to close at 22 kobo, while E-Tranzact International followed with a gain of 9.91 per cent to close at N5.88 per share.

Neimeth Pharmaceutical and FTN Cocoa processors went up by 9.88 per cent each to close at N1.78 each, while Unity Bank appreciated by 9.76 per cent to close at N1.35 per share.

On the other hand, Jaiz Bank led the losers’ chart by 10 per cent to close at N1.53 per share. Meyer followed with a decline of 9.88 per cent to close at N2.19, while Ikeja Hotel lost 9.86 per cent to close at N3.20 per share.

Tantalizers depreciated by 9.09 per cent to close at 20 kobo, while Cadbury Nigeria declined by 9.04 per cent to close at N17.10 per share.

The total volume traded increased by 9.20 per cent to 643.031 million units, valued at N6.108 billion, and exchanged in 7,806 deals.

Transactions in the shares of Universal Insurance topped the activity chart with 141.337 million shares valued at N35.088 million. Guaranty Trust Holding Company (GTCO) followed with 44.863 million shares worth N1.440 billion, while Japaul Gold & Ventures traded 37.683 million shares valued at N23.281 million.

United Bank for Africa (UBA) traded 31.667 million shares valued at N362.034 million, while Access Holdings sold 27.444 million shares worth N409.238 million.