NGX: All-Share Index up by 2.04%

Selloffs: Equity market closes with N99bn loss

Stock market relapses by N143 billion

The Nation’s bourse on Wednesday continued to appreciate, as the All-Share Index gained 2.04 per cent or 1,546.77 points to settle at 77,537.57 basis points, against 75,990.88 recorded on Tuesday.

Consequently, the Nigerian Exchange Ltd (NGX) market capitalisation gained N846 billion to close at N42.429 trillion, as against N41.583 trillion recorded previously.

As a result, the Year-To-Date (YTD) return rose to 3.70 per cent.

The positive report was due to gains in Tier-one banks such as, Zenith Bank, Guaranty Trust Company (GTCO) and StanbicIBTC.

Meanwhile, a total of 927.56 million shares valued at N10.69 billion were exchanged in 11,629 deals.

Fidelity Bank led the volume chart with 108.11 million units traded, while the United Bank of Africa(UBA) led the value chart with deals worth N1.54 billion.

However, 121 NGX listed equities participated in the trading, which ended with 78 gainers and seven losers.

Dangote Sugar Refinery led the gainers chart by 10 per cent to close at N63.25 per share, followed by United Bank for Africa (UBA) and Berger Paints with 10 per cent share price each to close at N28.60 and N14.30 per shares respectively.

Custodian Insurance and FCMB also gained 10 per cent share prices each to close at N9.90 and N8.25 per shares respectively.

On the losers chart, Learn Africa led with a depreciation of 9.09 per cent at N2.90 per share, followed by Champion Breweries with a loss of 7.32 per cent at N3.8 per share.

CILeasing shed 2.33 per cent to close at N5.03 per share, while the Nigerian Exchange Group lost 1.7 per cent to close at N23.10 per share and Ellahlakes depreciated by 1.64 per cent to close at N3.00 per share.