Home Capital Market Nigerian equity sustains upturn, gains 1.07%

Nigerian equity sustains upturn, gains 1.07%

Stockbrokers at the floor of the Nigerian Stock Market

The Nigerian equity market on Wednesday continued its upturn,  sustaining bullish trend for the third consecutive days on the back of gains recorded by industrial goods sector, particularly Dangote Cement.

The All Share Index (ASI) went up by 323.15 absolute points, representing an increase of 1.07 per cent, closing at 30, 460.68 points, while the Market Capitalization was up by N120.50 billion representing a growth of 1.07 per cent, closing at N11.36 trillion.

Investors are positioning themselves to take advantage of the forthcoming earning season.

All the sectors on the Exchange appreciated but for the banking and oil and gas sectors, which declined -0.68 per cent and -0.01 per cent respectively.

Sovereign Trust Insurance appreciated 10 per cent to emerge top gainer amongst 24 other gainers, while Beta Glass shed -10 per cent to top the 16 losers’ chart.

Of the total 305.81 million shares valued at N2.1 billion traded on Wednesday, investors exchanged   141.23 million shares of Diamond Bank worth N296.58 million to emerge the most active stock in terms of volume, while 17.44 shares of GTBank were traded for N577.75 million, seeing it become the most active stock with regards to value.