Nigerian equity has sustained rally for two consecutive weeks

Adebayo Obajemu

The Nigerian Stock market on Wednesday closed flat as the All Share Index appreciated marginally by 0.001% to settle at 28,344.33 points from the previous close of 28,344.04 points.

The market capitalization at the end of the day’s trading settled at N14,815,121,039,503.14 from the previous close of N14,815,121,039,503.10.

An aggregate of 218.425 million units of shares were traded, same as the previous record in 3,896 deals, valued at about N3 billion.

Market Breadth

The market breadth closed positive as 14 stocks gained while 11 stocks declined in their share prices.

Percentage Gainers

ETERNA Oil led other gainers with 9.85% growth, closing at N4.81 from the previous close of N4.38.

Academy Press, African Prudential and Cornerstone Insurance among other gainers also grew their share prices by 7.41%, 5.75% and 5.00% respectively.

Percentage Losers

ETRANZACT led other price decliners as it shed 9.91% of its share price to close at N1.91 from the previous close of N2.12.

Wema Bank and COURTVILLE among other price decliners also shed their share prices by 5.17% and 4.76% respectively.

Volume Drivers

Zenith Bank traded about 53 million units of its shares in 419 deals, valued at N1 billion.

UBA traded about 26.21 million units of its shares in 301 deals, valued at N223 million.

Guaranty traded about 25 million units of its shares in 275 deals, valued at N753 million