Adebayo Obajemu

The stock market on Wednesday closed on a bullish note, occasioned by gains in the share prices of Dangote Cement and Nestle by 6.53% and 6.36% respectively.

The All Share Index appreciated by 1.89% to close at 39592.29 points from the previous close of 38,858.99 points.

Investors gained N382 billion as Market Capitalisation grew by 1.89% to close at N20.628 trillion from the previous close of N20.246 trillion.

An aggregate of 474.37 million units of shares were traded in 3,547 deals, valued at N4 billion.

The Market Breadth closed negative as 24 equities emerged as gainers against 14 equities that declined in their share prices.

Percentage Gainers

Northern Nigeria Flour Mills led other gainers with 6.88% growth to close at N8.55 from the previous close of N8.

FBNH, Dangote Cement and Nestle among other gainers also grew their share prices by 6.62%, 6.53% and 6.36% respectively.

Percentage Losers

AXA Mansard and Julius Berger led other price decliners, shedding 10% of their share prices to close at N2.43 and 24.3 respectively.

Grief Nigeria Plc and Sovereign Trust Insurance among other price decliners also shed their share prices by 9.92% and 8.33% respectively.

Volume Drivers

FBNH traded about 264.69 million units of its shares in 264 deals, valued at N2.051 billion.

Universal Insurance traded about 76.67 million units of its shares in 17 deals, valued at N15.33 million.

AXA Mansard traded about 13.08 million units of its shares in 141 deals, valued at N31.83 million