Equities market gains 1.99% yesterday


By Philemon Adedeji

Transaction on the equities market segment of the Nigerian Exchange Limited (NGX) on Wednesday increased by 1.99 per cent due to investors buying interest in  CWG, Okomu oil Plc, Champion breweries and other stocks.

However, All shares index on Wednesday inched weight by 1,033.04 basis points or 1.99 per cent to 52,838.45 index points from 51,805.41 index points recorded on Tuesday.

Absolutely, the market capitalisation value largely increase to N557 billion to close trade at N28.485 trillion from N27.928 trillion recorded yesterday.

The market breadth was positive as CWG led 44 advancers while Bua foods led 28 decliners.

The total volume of trades appreciated by 26 per cent to 417.386 million shares worth at N7.331 billion and exchanged in 7,255 deals.

On the advancers table, CWG and Okomu oil plc was recorded as the highest price gainer which appreciated by 10 per cent increased to close trade at N0.99 and N205.70 per share respectively.

Champion breweries was third price gainer which gained 0.40 kobo representing 9.93 per cent to close trade at N4.43 per share, While Mchichols rose by 9.90 per cent to close trade at N1.11 per share and IMG which recorded as the last fifth gainer grew by 0.85 kobo or 9.88 per cent increased to close trade at N9.45 per share.

On the other hand, Bua foods and Ikeja Hotel was recorded as the most losers after the trade yesterday which declined by 10 per cent  to close trade at N56.70 and N1.17 respectively. As Eternal plc dipped by 9.92 per cent or 0.72 kobo to close trade at N6.54 per share, NNFM depreciated by 0.95 kobo representing 9.50 per cent I close trade at N9.05 per share and Rt.Briscoe dropped by 0.06 kobo to close trade at N0.63 per share.

Transaction in the share of Jaizbank  topped the activity chart, Jaizbank transacted 40.438 million shares worth 34.916 million, Followed by Transcorp plc which traded 35.367 million shares valued at 42.616 million, While International breweries transacted 25.353 million shares worth 224.911 million.

Unilever traded 24.639 million shares valued at 362.615 million and Fidelity bank traded 20.990 million shares worth 74.126 million.

JAIZBANK led in terms of volume, While Unilever led in terms of value.