Chams, Airtel Africa, other stocks lift market high by 1.2%

By Philemon Adedeji

Chams, Airtel Africa Plc led other counters that lifted the stock market to high level since  opening of the week. The Nigerian’s stock market gained about N346 billion or 1.2 per cent appreciation on Wednesday recording its largest daily gain since market opened for this week.

The Nigerian Exchange Limited (NGX), All shares index (ASI) inched weight to 641.77 basis points representing 1.2 per cent from 52,591.41 index points it closed trade yesterday to 51,949.64 index points it closed trade for the preceding day.

Basically, Market Capitalisation value gained further by N346 billion to close trade at N28.352 trillion from N28.006 trillion it closed trade for the preceding day.

Trade volume dipped yesterday by 47 per cent as investors bought and sold 382,455,077 million units valued by N4.233 billion and exchanged in 5,922 deals.

Midweek NGX ASI BEST ADVANCERS

Chams was recorded as the best gainer at close of trade yesterday which appreciated by 0.02 kobo representing 9.52 per cent increased to close trade at N0.23 per share, Airtel Africa Plc followed by 138 kobo or 9.39 per cent to close trade at N1608 per share.

FTN COCOA which recorded as the third best gainer grew by 6.06 per cent or 0.02 kobo increased to close trade at N0.35 per share while, Veristas kapital Assurance gained 4.76 per cent or 0.01 kobo increased to close trade at N0.22 per share and ROYALEX Exchange which recorded as the last fifth gainer rose by 0.04 kobo or 3.64 per cent increased to close trade at N1.14 per share.

MIDWEEK NGX ASI BEST LOSER

Mcnichols and Champion breweries declined by 10 per cent to close trade at N1.98 and N3.42 per share respectively.

PZ cussion was recorded as the third best loser which dropped by 1.25 kobo to represent 9.92 per cent to close trade at N11.35 per share while Regalins down by 9.68 per cent or 0.03 kobo increased to close trade at N0.28 per share and Nem Insurance depreciated by 0.37 or 9.25 to close trade at N3.63 per share

Transaction in the share of UACN topped the volume chart yesterday, which traded 48.190 million share valued by 618.643 million, Followed by United bank of Africa which traded 31.852 million share worth 250.519 million.

Accesscorp transacted 30.691 million share worth 300.769 million, as First Bank holding of Nigeria transacted 30.621 million share valued 327.315 million and Transcorp plc  traded 27.328 million share worth 32.351 million

UACN led yesterday in terms of volume and value.