Equities Market Extends Bullish Run As Investors Gain N255bn

Investors in the Nigerian equities market gained N255 billion at the close of trading on Wednesday.

This followed the surge in the share prices of stocks such as First Holding Co, Lasaco Assurance and Veritas Kapital Plc, among others, on the trading floor.

The benchmark All-Share Index (ASI) rose to 149,842.82 points from the 149,459.11 points recorded the previous day.

After five hours of trading at the capital market, the equity capitalisation surged to N95.5 trillion from N95.2 trillion posted by the bourse on Tuesday.

The market breadth was positive with 38 stocks advancing, 23 stocks declining, and 85 stocks remaining unchanged in 25,205 deals.

An aggregate of 5,925,204,140 units of shares was traded, valued at N216.1 billion

First Holding Co, Lasaco Assurance and Veritas Kapital Plc led the gainers with 10% growth each in share prices, respectively, to close at N39.60, N2.75, and N1.76 per share, up from the previous N36.00, N2.50, and N1.00 per share.

Living Trust Microfinance Bank, International Energy and MC Nichols led other price decliners with a 10%, 9.92%, and 6.90% dip each in share price to close at N3.15, N2.72, and N2.97 per share, down from the previous N3.50, N2.52, and N3.19 per share

On the volume index, First Holding Co led trading with 108 million shares in 916 deals, followed by Sterling Bank, which traded 87 million shares in 371 deals.

First City Monument Bank traded 74 million shares in 380 deals.

On the value index, First Holdings Co traded stocks valued at N4.2 billion in 918 deals, followed by Zenith Bank, which traded equities worth N2.0 billion in 1,165 deals.

Vita Foam Plc traded shares valued at N1.5 million in 239 deals.