Nigerian equities market gains by 1.00%

Salamatu Ejembi, Lagos

Logo of the Nigerian Stock Exchange (NSE).

The Nigerian equities market recorded its first gain of the week, with the benchmark index gaining 1.00% following investors’ interest in GUARANTY TRUST BANK PLC and ZENITH BANK PLC.

The All Share Index closed on Wednesday at 27,681.61 basis points as against previous closing of 27,407.04 basis points.

The total volume of trades increased by 91.64% to 379.51 million units, valued at N5.25 billion and exchanged in 3,923 deals when compared to 198.03 million units, valued at N2.90 billion exchanged in 3,830 deals

GUARANTY TRUST BANK PLC was the most traded stock by volume and value at 98.42 million units and N2.83 billion.

All sectoral indices gained except for the Oil & Gas Index which fell by 0.19%.

While the Banking Index gained 2.99%, Industrial Goods Index gained 0.94%, Insurance Index gained 0.45% and Consumer Goods gained 0.27%.

Market sentiment, as measured by market breadth, was positive with 24 stocks recording gains relative to 13 losers as compared to Tuesday close of 22 stocks gainers relative to 15 losers.

On the gainers’ list, CUTIX PLC topped by 10.00% and ECOBANK TRANSNATIONAL INCORPORATED followed also with 10.00% gains, while CHAMPION BREW. PLC. fell by 8.80% and R T BRISCOE PLC fell by 6.90%, recording the largest declines.

Peace PIAK