Nigerian stock market daily report: Bull run continues on Wednesday

The bull run on the Nigerian Exchange’s Equities market continued on Wednesday, propelled by bargain hunting by Investors. The benchmark All-Share Index (NGX ASI) advanced by 0.47% to close the day’s trading at 104,007.31 points.

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Equities market capitalization appreciated by the same 0.47% percentage points, adding  ₦273 billion to Investors’ wealth to settle at ₦58.80 trillion.

Year to date gains improved to 39.10%, while YTD investor’s wealth as captured in the market capitalization have grown by ₦17.88 trillion

Ecobank Transnational Incorporated Plc (NGX: ECOBANK) emerged as the top gainer, advancing by 10%. Skyway Aviation Handling Company Plc (NGX: SKYAVN) was the biggest loser, with it’s share price shading 10%.

Activity Level

The activity level waned on Wednesday with the volume of shares, value of shares traded and the number of deals done all decreasing.

While the volume of shares traded decreased by 42.21%,  the value of shares traded decreased by 35.93% and no of deals done also decreased by 16.92%.

At the end of trading, 326.94 million shares valued at ₦9.11 billion had exchanged hands in 9,570 deals.

Shares of Transnational Corporation Plc (NGX: TRANSCORP),  Unity Bank Plc (NGX: UNITYBNK) and Guaranty Trust Holding Company Plc (NGX: GTCO) were the most traded stocks by volume with 38.94 million, 37.20 million and 26.43 million shares respectively.

Shares of Nestle Nig. Plc (NGX: NESTLE), and Guaranty Trust Holding Company Plc (NGX: GTCO) and Transcorp Power Plc (NGX: TRANSPOWER) were the most traded by value, with their shares worth ₦1.50 billion, ₦1.17 billion and ₦1.11 billion respectively exchanging hands.

Top gainers and losers

In the day’s trading session, 32 stocks advanced against 11 decliners.

The top five gainers were;

1. Ecobank Transnational Incorporated Plc (NGX: ECOBANK): It gained 10.00% to close at ₦22.00.
2. Julius Berger Nig. Plc (NGX: JBERGER): It gained 10.00% to close at ₦67.10.
3. N.E.M Insurance Plc (NGX: NEM): It gained 9.92% to close at ₦6.65.
4. R T Briscoe Plc (NGX: RTBRISCOE): It gained 8.89% to close at ₦0.49.
5. Deap Capital Management Plc (NGX: DEAPCAP): It gained 8.70% to close at ₦0.75.

The top five losers were;

1. Skyway Aviation Handling Company Plc (NGX: SKYAVN): It lost 10.00% to close at ₦22.95.
2. Sunu Assurance Nigeria Plc (NGX: SUNUASSUR): It lost 9.62% to close at ₦1.41.
3. May & Baker Plc (NGX: MAYBAKER): It lost 5.90% to close at ₦5.10.
4. Lasaco Assurance Plc (NGX: LASACO): It lost 5.66% to close at ₦2.00.
5. Japaul Gold & Ventures Plc (NGX: JAPAULGOLD): It lost 4.35% to close at  ₦2.20.

Four of the five indices under our watch advanced, while one closed flat.

1. Banking Index: The index gained 1.95% to close at 923.42 points (YTD: +4.93%).
2. Industrial Index: The industrial gained 0.03% to close at 4,800.00 points (YTD: +76.97%).
3. Consumer Goods Index: The index gained 0.22% to close at 1,623.05 points (YTD: +44.75%).
4. Oil & Gas Index: It closed flat  at 1,290.46 points (YTD: +23.72%).
5. Insurance Index: The index gained 0.79% to close at 364.62 points (YTD: +13.36%).

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur