Equity Investors Gain N186bn Amid Momentum Investing

During the session, the market capitalisation of the trading platform went up by N186 billion to N68.544 trillion from the N68.358 trillion recorded on Tuesday, and the All-Share Index (ASI) jumped by 295.99 points to 109,059.33 points from 108,763.34 points.

Yesterday, the commodity index remained flat, but the consumer goods space leapt by 1.25 per cent, the energy index advanced by 0.75 per cent, the banking counter improved by 0.58 per cent, the insurance industry chalked up 0.19 per cent, and the industrial goods sector appreciated by 0.01 per cent.

Investor sentiment remained strong as the bourse finished with 34 price gainers and 25 price losers, indicating a positive market breadth index.

Northern Nigeria Flour Mills gained 10.00 per cent to close N99.55, McNichols also increased by 10.00 per cent to N1.76, Champion Breweries went up by 9.91 per cent to N6.10, Caverton rose by 9.78 per cent to N4.04, and FTN Cocoa climbed higher by 9.65 per cent to N2.50.

On the flip side, Multiverse crashed by 9.63 per cent to N9.85, Geregu Power shut down by 9.09 per cent to N1141.50, Legend Internet lost 5.41 per cent to end at N8.40, Veritas Kapital slipped by 4.76 per cent to N1.00, and Transcorp shed 4.65 per cent to N44.10.

During the session, investors traded 531.3 million shares for N19.8 billion in 14,870 deals versus the 498.5 million shares worth N10.8 billion traded in 14,916 deals a day earlier, indicating a decline in the number of deals by 0.31 per cent, and a rise in the trading volume and value by 6.58 per cent and 83.33 per cent, respectively.

The most traded equity at midweek was GTCO with 53.3 million units sold for N3.7 billion, Access Holdings transacted 51.9 million units valued at N1.1 billion, Fidelity Bank traded 40.5 million units worth N834.8 million, Nigerian Breweries exchanged 35.8 million units valued at N1.9 billion, and Zenith Bank sold 27.4 million units worth N1.3 billion.