Investors’ wealth jumps by N1.2 trillion in three trading days

The bulls have strengthened holds on the equities sector of the Nigerian Exchange Limited(NGX) as many blue-chip stocks appreciated, causing investors wealth to soar by N1.2 trillion in three trading days.

Market capitalisation of listed equities rose by N1,205 trillion or 1.8 per cent from N66,069 trillion at which it opened for transactions on Monday to N67,274 trillion yesterday.

Similarly, the all-share index, which measures the performance of listed equities, rose by 1,247.54 points or 1.8 per cent from 106.574.98 points to 107822.52 points.

Yesterday’s upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Presco, Transcorp Power, Dangote Cement, Transcorp Hotels and VFD Group.

Also, investor sentiment, as measured by market breadth was positive as 51 stocks advanced, while 16 declined Ikeja Hotels and VFD Group recorded the highest price gain of 10 per cent each to close at N14.85 kobo and N52.80 kobo respectively.

Transcorp Hotel and Honeywell Flour Mills followed with a gain of 9.99 per cent each to close at N126.10 and N12.66 respectively, while Eterna up by 9.93 per cent to close at N48.70 per share.

On the other hand, CWG led the losers’ chart by 8.95 per cent to close at N8.65 kobo. Regency Alliance Insurance followed with a decline of 7.89 per cent to close at 70 kobo, while LASACO Assurance declined by 7.25 per cent to close at N3.20 kobo.

Royal Exchange depreciated by 7.22 per cent to close at 90 kobo, while SCOA Nigeria declined by 6.54 per cent to close at N3.43 kobo.
Meanwhile, the total volume traded declined by 7.52 per cent to 462.145 million units, valued at N10.233 billion, and exchanged in 15,629 deals. Transactions in the shares of Sterling Financial Holdings Company topped the activity chart with 49.612 million shares valued at N296.815 million.

Ellah Lakes followed with 34.505 million shares worth N133.924 million, while Zenith Bank traded 25.55 million shares valued at N1.308 billion.Access Holdings traded 19.59 million shares valued at N553.68 million, while AIICO Insurance sold 18.492 million shares worth N32.203 million.