Equities market sustains bullish sentiment as investors gain N31bn

The Nigerian equities market sustained its bullish sentiment on Wednesday as investors gained N31 billion at the close of the day’s trading.

This followed a surge in the share prices of stocks like Oando, Unilever, and Eunisell amongst others on the trading floor.

After five hours of trading at the capital market, the equity capitalization increased to N59.95 trillion from N59.92 trillion recorded by the bourse on Tuesday.

The benchmark All-Share Index (ASI) increased to 98,944.42 from 98,892.58 recorded the previous day.

The market breadth was positive as 30 stocks advanced and 16 stocks declined, while 72 stocks remained unchanged in 7,966 deals.

Oando, Unilever, and Eunisell led other gainers with 10 percent growth each in share prices to close at N89.65, N20.90, and N3.19 from the previous N81.50, N19.00 and N2.90 per share.

Aradel, NNFM, CONHALL PLC led other price decliners with 9.99 percent , 9.93 percent , and 6.12 percent  decline each in share prices to close at N562.90, N34.00, and N1.38 from the previous N625.40, N37.75, and N1.47 per share.

On the volume index, United Bank for Africa (UBA) Plc led trading with 66 million shares in 860 deals followed by Nigeria Breweries (NB) which traded 37 million shares in 106 deals.

ACCESS CORP traded 17 million shares in 377 deals.

On the value index, UBA topped, the securities traded stock worth N1.7 billion in 860 deals followed by Oando which traded equities worth N1.4 billion in 1, 097 deals.

NB traded shares valued at N1 billion in 106 deals.