Nigerian equity market sustains upturn, gains 0.47

The Nigerian Stock Exchange (NSE) continued its bullish trend for the second consecutive trading day, buoyed by bargain hunting by investors on Wednesday.

The All Share Index (ASI) increased by 144.43 absolute points, representing  0.47 per cent rise, closing at 31,151.68 points, swayed by Dangote Cement and 18 other stocks.

Also, Market Capitalization was up by N52.73 billion, representing a growth of 0.47 per cent, closing at N11.37 trillion.

Veritas Kapital Assurance Plc added 10 per cent to top the gainers’ list, while CCNN emerged the top among 18 losers, having dipped -9.72 per cent.

For the second straight day, FBN Holdings was the most active in terms of volume and value with  90.36 million of its shares worth N689.82 million exchanging hands.

A total of 198,637,464 shares worth N2.31 billion were traded in 2,845 deals.

The upturn was impacted by gains recorded in medium and large capitalized stocks, amongst which are; Diamond Bank (+8.97 per cent), PZ (+5.83 per cent), Wema Bank (+5.77 per cent), OANDO (+5.32 per cent), Flour Mill (+4.22 per cent), etc.