Equities market gains as 18 stocks appreciate

Investors recorded a slight gain of N1.7bn at the end of trading on the floor of the Nigerian Exchange on Wednesday.

The NGX All-Share Index rose from 48,568.57 basis points oto 48,571.75 basis points, while the market capitalisation of equities listed on the NGX rose from N26.183tn to N26.185. Eighteen companies recorded gains at the end of trading on Wednesday, while the equities of 23 companies depreciated in price.Academy and Wema Bank topped the gainers’ list as their share prices rose by 9.92 per cent and 9.88 per cent to N1.33 kobo and N3.67 kobo each; while Cadbury and UPDC’s share prices rose by 9.68 per cent and 9.09 per cent to N8.50 kobo and 0.96 kobo, respectively.

Ikeja Hotels and Lickstock topped the losers’ list as their share prices fell by 9.68 per cent and 9.5 per cent to N1.40 kobo and N1.62 kobo, while Chi Plc and Union Bank’s share prices fell by 9.38 per cent and 6.25 per cent to 58 kobo and N6.00 kobo, respectively. Cordros Capital research said, “For most of today’s session, the Nigerian equities market traded quietly; however, gains recorded in BUACEMENT and Guiness ensured the market closed higher amid profit-taking on some banking names.

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