HomeBUSINESSNGX market GainedN35.52 Billion amid bearish dominance

NGX market GainedN35.52 Billion amid bearish dominance

The Nigerian Stock Exchange Market recorded a N35.52 Billion gain  despite the dominance of bears on Wednesday.

The bearish transactions were 20 against 15 bullish deals.

However, the market closed in the positive as the market capitalization increased to N20.058 Trillion from N20. 022 Trillion  it stood at the end of trading session on Tuesday . This represents a N35.52 Billion or a 0.18 % gain.

High turnover in the capitalized equities of SEPLAT Petroleum, Zenith Bank, UAC Nigeria and Dangote cement anchored the gain while pushing the AGX ASI to close blue at 38,482.52 points from 38,414.37 it closed on Tuesday.

During the trading session, 156.9 Million shares exchanged hands on the floor , which was valued at N1.329 Billion in a 3,273 deals.

The top gainers were UPL LTD, Regency Alliance Insurance Plc, Veritas Capital Assurance Plc, Royal Exchange Plc and Consolidated Hall Mark Insurance Plc with UPL LTD on top of the chart.

The share price of UPL LTD rose to N1.40 from N1.28 it traded on Tuesday, while Veritas Capital Assurance Plc followed with a 4 kobo gain on its share price, closing at 53 kobo from 49 kobo opening price.

On the other hand, Computer Warehouse Group led the laggards with a 20 kobo plunge on its share price, closing at N1.87 from N2.07 it traded on the previous day.

Other losers were Ikeja Hotel, NASCON Allied Industry Plc, John Holt Plc,   and Link Assurance plc.

The equity of Guaranty Trust Bank was the most traded, recording 234 deals, valued at N100 Million.

Guaranty trust bank  also led the financial sector in turnover with UAC properties on the lead in the  construction and real estate sector. Vita foam, NAHCO and SEPLAT Petroleum led the consumer goods, service and Oil &Gas sectors respectively.

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