Investors gain N310bn as NGX ASI appreciates by 0.35%

By Seun Ibiyemi 

The Nigerian Exchange (NGX) closed positive on Wednesday, with investors recording a N310 billion gain following renewed bargain hunting in select stocks.

The market capitalisation rose from N89.555 trillion to N89.865 trillion, while the All-Share Index appreciated by 489.45 points or 0.35 per cent to settle at 142,036.23 from 141,546.78 recorded at the previous session.

Chellaram led the gainers’ chart with a 9.77 per cent rise to N14.60 per share, followed by Austin Laz which climbed 9.67 per cent to N2.95. 

The Initiates gained 8.08 per cent to close at N12.97, Sovereign Trust Insurance advanced 7.37 per cent to N3.06, while Aradel Holdings appreciated by 6.97 per cent to finish at N583.

On the losers’ table, Guinea Insurance declined 9.70 per cent to N1.49 per share, Cornerstone Insurance dropped 8.68 per cent to N6.52, Legend Internet shed 7.27 per cent to N5.10, Deap Capital fell 7.06 per cent to N1.58, while Thomas Wyatt lost 6.49 per cent to N2.45.

Trading activity showed mixed performance as investors exchanged one billion shares worth N24.7 billion in 23,281 deals, higher than the 414.9 million shares valued at N12.95 billion traded in 25,386 deals on Tuesday. 

Abbey Mortgage Bank topped the activity chart with 401.1 million shares valued at N2.7 billion.

This is followed by Fidelity Bank with 254.8 million shares worth N5.3 billion while United Bank for Africa traded 23.2 million shares valued at N1.1 billion.

FirstHoldCo transacted 22.5 million shares worth N699.6 milllion and Access Corporation sold 17.5 million shares valued at N473.9 million.