The Nigerian stock market continued on a bullish trend on Wednesday, gaining N224 billion and marking a three-day positive trend.
Market capitalisation rose by N224 billion or 0.32 per cent, closing at N71.118 trillion when compared to N70.894 trillion recorded on Tuesday.
Similarly, the All-Share Index (ASI) climbed 354.25 points or 0.32 per cent, reaching 112,781.73 from 112,427.48 recorded on Tuesday.
The upward trend was driven by strong buying interest in medium and large-capitalised stocks, including: Oando, UH Real Estate Trust, Royal Exchange, Legend Internet, Lasaco Assurance and 27 other stocks.
Meanwhile, the market breadth closed positive with 32 gainers and 21 losers.
On the gainers’ chart, Oando soared by 10 per cent, settling at N51.70 while UH Real Estate Trust increased by 9.96 per cent, closing at N50.25 per share.
Royal Exchange rose by 8.64 per cent, ending the session at 88k and Legend Internet gained by 7.27 per cent, finishing at N5.90 per share.
Similarly, Lasaco Assurance climbed by 6.67 per cent, closing at N3.20 per share.
On the losers’ chart, Nigerian Railway Corporation dropped by 9.89 per cent, ending the session at N5.92 while ABC Transport fell by 9.83 per cent, settling at N2.66 per share.
Meyer lost by 9.63 per cent, closing at N8.45 and Academy declined by 9.58 per cent, finishing at N4.53 per share.
Also, Livestock Feeds shed by 6.77 per cent, closing N8.95 per share.
A total of 611.53 million shares worth N16.68 billion were traded across 13,682 transactions.
This is in contrast to 622.64 million shares worth N16.12 billion traded across 17,044 transactions earlier on Tuesday.
Transactions in the shares of Fidelity Bank topped the activity chart with 93.47 million shares worth N1.78 billion.
Guaranty Trust Holding Company followed with 87.20 million shares valued at N5.95 billion while Royal Exchange traded 73.08 million shares worth N64.93 million.
United Bank for Africa sold 57.11 million shares valued at N1.97 billion and Access Corporation transacted 38.76 million worth N854.59 million.
