See more as Nigerian stock market closes on a positive on Wednesday

• The Nigerian banal marketplace recorded a affirmative show connected Wednesday arsenic investors stake connected companies' fiscal performance
• Data shows that user goods, banking and security stocks pushed the marketplace higher erstwhile again
• Cadbury, International Breweries, Fidson and Eterna recorded the biggest gains aft 4 hours of trading

Legit.ng writer Dave Ibemere has implicit a decennary of business journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.

The Nigerian equities marketplace ended Wednesday's trading league connected a affirmative note, buoyed by net of companies.

The All-Share Index (ASI) closed astatine 109,000.19 points, an summation from the erstwhile trading day's day’s lows of 108,361.1.

NGX-ASI crosses 109,000 points Photo credit: Bloomberg/contributor
Source: Getty Images

Equities marketplace capitalisation moved higher from preceding day’s of N68.105 trillion to N68.507 trillion connected Wednesday.

This means the marketplace worth accrued by N402 billion.

Commenting connected banal marketplace show analysts astatine CardinalStone Research said:

“The section speech is expected to support its affirmative momentum into the caller month, peculiarly successful the aboriginal weeks, driven by an earnings-induced rally”.“Strong firm show is apt to prolong capitalist involvement and enactment further marketplace gains. Additionally, the caller resurgence successful overseas information successful the equities marketplace presents a important upside.“This renewed involvement signals a imaginable instrumentality of overseas inflows, which could heighten marketplace liquidity and capitalist confidence, contributing to a much robust performance.”

Snapshot of the market

At a person look astatine however the marketplace moved connected Wednesday, investors exchanged 587,472,362 shares worthy N18.659 cardinal successful 17,496 deals.

Here is simply a breakdown of marketplace show connected Monday.

Nigerian stocks marketplace improve Photo credit: Bloomberg/contributor
Source: Getty Images

Top gainers

• UPDC Real Estate Investment Trust: Gained N0.60 to adjacent astatine N6.60, up from N6.00 (+10.00%).
• Meyer Plc: Gained N0.80 to adjacent astatine N8.80, up from N8.00 (+10.00%).
• Beta Glass Plc: Gained N13.25 to adjacent astatine N146.05, up from N132.80 (+9.98%).
• The Initiates Plc (TIP): Gained N0.55 to adjacent astatine N6.08, up from N5.53 (+9.95%).
• Vitafoam Nigeria Plc: Gained N5.05 to adjacent astatine N55.85, up from N50.80 (+9.94%).

Top losers

• Deap Capital Management & Trust Plc: Lost N0.12 to adjacent astatine N1.08, down from N1.20 (-10.00%).
• Veritas Kapital Assurance Plc: Lost N0.10 to adjacent astatine N1.00, down from N1.10 (-9.09%).
• Linkage Assurance Plc: Lost N0.08 to adjacent astatine N1.13, down from N1.21 (-6.61%).
• Africa Prudential Plc: Lost N0.95 to adjacent astatine N16.00, down from N16.95 (-5.60%).
• UPDC Plc: Lost N0.14 to adjacent astatine N3.00, down from N3.14 (-4.46%).

Top traded stocks by volume

• Guaranty Trust Holding Company Plc (GTCO): 98.64 cardinal shares traded, valued astatine N6.57 billion.
• Tantalizers Plc: 75.48 cardinal shares traded, valued astatine N175.22 million.
• Fidelity Bank Plc: 40.47 cardinal shares traded, valued astatine N816.04 million.
• Zenith Bank Plc: 38.47 cardinal shares traded, valued astatine N1.87 billion.
• Nigerian Breweries Plc: 30.51 cardinal shares traded, valued astatine N1.64 billion.

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Source: Legit.ng