Stock market gains N297bn

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The Nigerian stock market sustained unprecedented rally on yesterday as the NSE All Share Index appreciated by 830.52 basis points or 1.85 per cent to close at 44,885.24 points as against 2.2 per cent appreciation recorded the previous day.

Market capitalisation appreciated by N297.530 billion to close at N16.080 trillion from N15.782 trillion it closed on Tuesday.

Transnational Corporation emerged the most traded equity on Wednesday with an exchange of 140.613 million shares worth N358.175 million.  It was trailed by Sterling Bank having accounted for 104.339 million shares valued at N252.494 million, while Wema Bank recorded 95.464 million shares worth N88.790 million; Diamond Bank exchanged 87.138 million shares valued at N275.151 million while Access Bank traded 85.525 million shares worth N1.061 billion.

In all a total of 960.751 million shares, valued at N12.520 billion were traded in 8,866 deals at the close of trading on Wednesday.

Petroleum marketer, Mobil  Oil led the gainers’ table on Wednesday when it appreciated by N16.50 to close at N216.00 per share, followed by building materials ‘major, Dangote Cement which added N13.00 to its share price to close at N273.00 per share, while Guinness Nigeria nicked 570 kobo to close at N119.70 per share. Beta Glass increased by 269 kobo to close at N56.56 per share, while the share price of Conoil increased by 197 kobo to close trading at N41.38 per share, among others.

On the flip side, Nigerian Breweries led the decliners’ table when it went down by 344 kobo to close at N146.05 per share, followed by national Salt Company of Nigeria which shed 110 kobo to close at N21.00 per share, Zenith Bank dropped 101 kobo to close at N32.50 per share, Cadbury Nigeria lost 80 kobo to close at 15.31 per share, while Dangote Flour Mills depreciated by 39 kobo to close at N15.95 per share, among others.

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