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Investors show renewed interest in Nigerian equity market; hits 32 weeks high



Investors are showing fresh interest in the Nigerian equity market as it gained a whopping 3.54 per cent on Wednesday to reach its highest level in almost a year.

In a resurgence led by Dangote Cement, which has concluded plans for a share buyback, the All-Share Index (ASI) increased by 975.55 absolute points, representing a growth of 3.54 per cent to close at 28,562.48 points.

Also, the Market Capitalization gained N470.90 billion, representing an increase of 3.54 per cent to close at N13.79 trillion.

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FBNH and Union Diagnostic jointly emerged as the top gainers, having risen 10 per cent, as 38 stocks made the gainers list.

On the other hand, TRIPPLEG emerged as top loser among eight other losers, as it shed -9.38 per cent.

All the sectors finished in the positive territory with the industrial sector leading the pack with 6.07 per cent appreciation.

Meanwhile, investors traded a total of 741,82 million units of shares worth N9.22 billion in 7,622, with UBA emerging the most active equity in volume terms, trading 156.01 million units valued at N1.40 billion and Zenith Bank was most active in terms of value, exchanging 86.06 units worth N1.89 billion.

The Nigerian equity market has so far posted a 6.41 per cent return this year, having ended last year with over -14 per cent loss.

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