Lagos: The stock market reversed its previous losses by 0.02 per cent on Wednesday, recording a N20 billion gain for investors after a day’s negative run. The positive performance was due to returned investor interest in stocks like Skye Shelter Fund, Royal Exchange, International Energy Insurance, Julius Berger, Omatek, and 29 other stocks.
According to News Agency of Nigeria, the market capitalisation, which opened at N93.756 trillion, added N20 billion to close at N93.776 trillion. Similarly, the All-Share Index increased by 0.20 per cent or 31.27 points, settling at 147,742.23 compared with 147,710.96 recorded on Tuesday. The market breadth also closed positive with 34 gainers against 28 losers.
On the gainers’ table, Skye Shelter Fund led by 9.88 per cent, ending the session at N418.75. Royal Exchange followed with a 7.37 per cent increase, settling at N2.33, and International Energy Insurance rose by 6.05 per cent, closing at N2.98 per share. Julius Berger saw a rise of 5.51 per cent, finishing at N134, while Omatek Ventures soared by 4.90 per cent, settling at N1.50 per share.
Conversely, Tripple Gee led the losers’ table with a decline of 9.91 per cent, closing at N4.91. Industrial and Medical Gases followed with a 9.87 per cent drop, finishing at N32.40, while UAC of Nigeria fell by 6.46 per cent, ending the session at N68 per share. Ellah Lakes dipped by 4.66 per cent, closing at N13.30, and Ja Paul Gold fell by 4.51 per cent, settling at N2.54 per share.
Market activity showed an overall improvement in volume, value, and deals, with 389.1 million shares valued at N12.5 billion traded across 23,017 transactions. This is compared to 262.5 million shares worth N8.3 billion exchanged across 16,693 transactions earlier on Tuesday.
Transactions in the shares of Fidelity Bank topped the activity chart in volume with 46.9 million shares valued at N942.3 million. CHAMS followed with 24.8 million shares worth N101.4 million, while Zenith Bank traded 20.8 million shares valued at N1.42 billion.
