NGX-ASI closes positive, rises 0.34%

Trading on the Nigerian equities market on the Nigerian Exchange Ltd., on Wednesday, closed positive, maintaining a four-day bullish trend.

The All-Share Index (ASI) gained 0.34 percent to close at 47.367.31 points from 47.205.03 points posted on Tuesday.

Similarly, the market capitalization increased by N88 billion to close at N25.536 trillion from ₦25.448 trillion recorded on Tuesday.

Market breadth closed positive as 30 stocks were on the gainers’ chart while 16 others were on the laggards’ table.

Meyer led the gainers’ chart in percentage terms by 9.56 percent to close at N1.49 per share.

Ikeja Hotel followed with a gain of 9.24 percent to close at N1.30 while Caverton rose by 6.78 percent to close at N1.26 per share.

Union Bank of Nigeria also went up by 6.56 percent to close at N6.50, while FTN Cocoa appreciated by 6.45 percent to close at 33k per share.

On the other hand, Sunu Assurances led the losers’ chart in percentage terms by 7.69 percent to close at 36k per share.

Sterling Bank followed with six percent to close at N1.41 per share.

Unilever shed 4.51 per cent to close at N12.70.

WAPIC lost 4.44 percent to close at 43k per share, while UCAP lost 3.97 percent to close at N13.30.

Also, the total volume traded increased to 391.89 million units from 245.42 million units recorded the previous day.

Also, the total value of trade stood at N9.95 billion and was exchanged in 5,419 deals.

Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the volume chart with 65.89 million shares valued at N1.62 billion.

Zenith Bank followed with 43.91 million shares worth N1.1billion, while United Bank for Africa (UBA) traded 28.92 million shares valued at N235.71 million.

Fidelity Bank traded 28.5 million shares valued at N106.48 million, while MTN Nigeria transacted 2.75 million shares worth N4.83 million.