The Nigerian stock market continued on a bullish trend on Wednesday, gaining N224 billion and marking a three-day positive trend.<\/p>\n
Market capitalisation rose by N224 billion or 0.32 per cent, closing at N71.118 trillion when compared to N70.894 trillion recorded on Tuesday.<\/p>\n
Similarly, the All-Share Index, ASI, climbed 354.25 points or 0.32 per cent, reaching 112,781.73 from 112,427.48 recorded on Tuesday.<\/p>\n
The upward trend was driven by strong buying interest in medium and large-capitalised stocks, including: Oando, UH Real Estate Trust, Royal Exchange, Legend Internet, Lasaco Assurance and 27 other stocks.<\/p>\n
Meanwhile, the market breadth closed positive with 32 gainers and 21 losers.<\/p>\n
On the gainers\u2019 chart, Oando soared by 10 per cent, settling at N51.70 while UH Real Estate Trust increased by 9.96 per cent, closing at N50.25 per share.<\/p>\n
Royal Exchange rose by 8.64 per cent, ending the session at 88k and Legend Internet gained by 7.27 per cent, finishing at N5.90 per share.<\/p>\n
Similarly, Lasaco Assurance climbed by 6.67 per cent, closing at N3.20 per share.<\/p>\n
On the losers\u2019 chart, Nigerian Railway Corporation dropped by 9.89 per cent, ending the session at N5.92 while ABC Transport fell by 9.83 per cent, settling at N2.66 per share.<\/p>\n
Meyer lost by 9.63 per cent, closing at N8.45 and Academy declined by 9.58 per cent, finishing at N4.53 per share.<\/p>\n
Also, Livestock Feeds shed by 6.77 per cent, closing N8.95 per share.<\/p>\n
A total of 611.53 million shares worth N16.68 billion were traded across 13,682 transactions.<\/p>\n
This is in contrast to 622.64 million shares worth N16.12 billion traded across 17,044 transactions earlier on Tuesday.<\/p>\n
Transactions in the shares of Fidelity Bank topped the activity chart with 93.47 million shares worth N1.78 billion.<\/p>\n
Guaranty Trust Holding Company followed with 87.20 million shares valued at N5.95 billion while Royal Exchange traded 73.08 million shares worth N64.93 million.<\/p>\n
United Bank for Africa sold 57.11 million shares valued at N1.97 billion and Access Corporation transacted 38.76 million worth N854.59 million.<\/p>\n
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