Equity Market Records N1.44trn Gain

The Nigerian stock market continued on a positive note on Wednesday, adding N1.44 trillion to its value.Market capitalisation surged by 1.80 per cent to reach N81.584 trillion, up from N80.143 trillion recorded on Monday.
Similarly, the All-Share Index (ASI) rose by 2,277.54 points, or 1.80 per cent, settling at 128,967.08 from its previous close of 126,689.54.
This positive trend was fueled by strong buying interest in medium and large-capitalised stocks including Nestlé Nigeria, Secure Electronic Technology, Omatek and 38 other stocks.
Meanwhile, the market breadth closed negative, with 45 losers 41 losers.
On the flip side, FTN Cocoa Processors lost by 10 per cent, closing at N7.02 while NPF Microfinance Bank also dropped by 10 per cent, finishing at N2.43 per share.
Cileasing fell by 9.97 per cent, ending the session at N7.13 and Champion Breweries declined by 9.96 per cent, closing at N12.29 per share.
Also, Academy shed by 9.95 per cent, settling at N8.33 per share.
Nestlé Nigeria led the gainers’ chart, increasing by 10 per cent, settling at N1,650.00, while Eunisell Interlinked Plc also grew by 10 per cent, finishing at N14.85 per share.
Omatek Ventures gained by 10 per cent, ending the session at N1.76 and Secure Electronic Technology also climbed by 10 per cent, closing at N1.21 per share.
Tripple Gee rose by 9.92 per cent, finishing at N4.32 per share.
11.67 billion shares worth N363.4 billion were traded across N36,635 transactions, compared to 1.29 million shares worth N32.2 billon that was exchanged across 39,437 transactions earlier on Monday.
Transactions in the shares of First Bank Holding Company topped the activity chart with 10.47 billion shares, worth N324.5 billion.
United Bank for Africa followed with 157.54 million shares, worth N7.62 billion while Access Corporation traded 124.6 million shared valued at N3.27 billion.

Universal Insurance sold 124.1 million shares worth N89.99 million and Zenith Bank transacted 66.3 million shares valued at N5.1 billion.