The Nigerian equity market sustained gains for two consecutive trading days on Wednesday, driven by appreciation recorded in bellwether stocks like in MTNN, Zenith Bank, and 23 others.

Consequently, the All-Share Index (ASI) increased by 148.07 absolute points, representing a growth of 0.71 per cent to close at 21,073.26 points, the Market Capitalization gained N77.17 billion, increasing 0.71 per cent to close at N10.98 trillion.

ETI & Ikeja Hotel gained 10 per cent to emerge as the top gainers among 23 others, while Sky Aviation & UNIONDAC shed the same per cent top six other losers.

The Nigerian Stock Exchange has far post 21.49 per cent decline this year as portfolio investors exit emerging economies.

The volume and value of equities traded declined 7 5 per cent and 6 per cent to 346 million units and ₦5.2 1 billion respectively.

GTBank was the most active stock, trading 102.2 3 million units valued at ₦1.8 4 billion, while FBNH (6 4.70 million units) and Zenith Bank (3 0.2 9 million units) were second and third respectively. GTBank also led activity in value terms, followed Nestle (₦1.3 5 billion) and Zenith Bank (₦395.4 billion.

The Banking and Consumer goods Indices were the top gainers, increasing 2.19 per cent and 1.11 per cent respectively buoyed by gains in Dangote Sugar (+9.55 per cent), UBA (+3.67 per cent), Flour Mills (+2.38 per cent) and Zenith Bank (+2.32 per cent).


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