With fresh interest in Aradel Holdings and 25 other stocks, investors gained N309 billion; Wednesday’s trading session concluded on a bullish note on the Nigerian Exchange (NGX).
Despite varied market breadth, the encouraging results show continuous momentum in major areas.
All-Share Index rose 489.45 points with a growth of 0.35 percent to 142,036.23 points. The market capitalisation then rose to N89.865 trillion, underlining how much more activity in medium and big companies like Dangote Cement, Guinness could have. Nigeria, Aradel Holdings, First Holdco, Chellarams.
Even though the general market attitude stayed cautious, with 26 gainers against 32 losers, The News Chronicle realizes that strong purchase interest in particular stocks helped lift the market.
With a 9.77 percent increase to finish at N14.60 per share, Chellarams headed the day’s gainers; Austin Laz & Company followed. Aradel Holdings rose 7.37 percent to N3.06 while Sovereign Trust Insurance increased 8.08 percent to finish at N12.97; 9.67 percent to N2.95. Also kept great upward momentum, ascending 6.97% to N583.
Guinea Insurance on the other hand, led the list of losers with a 9.70 percent decline to N1.49 per share. Legend Internet fell 7.27% to N5.10 while Cornerstone Insurance dropped 8.68% to N6.52. Deap Capital Management lost 7.06% to N1.58, and At N2.45, Thomas Wyatt Nigeria fell 6.49%.
Performance in the sectors was varied. Consumer goods climbed 1%, the oil and gas index jumped 2.6%, and industrial items inched up 0.1%. But, reflecting selective investor positioning across sectors, insurance stocks dropped 1.6% and the banking index fell 0.2%.
As total volume climbed 142.09% to 1.005 billion units worth N24.655 billion in 23,281 transactions, trading activity shot up considerably. Dominating the action chart was Abbey Mortgage Bank, exchanging 401.065 million shares valued at N2.727 billion.
Following Fidelity Bank, 254.810 million shares worth N5.274 billion. UBA recorded 23.221 million shares valued at N1.095 billion, while First Holdco traded 22.529 million shares worth N699.63 million, and Access Holdings registered 17.476 million shares valued at N473.992 million.
