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Market sees first gain this week as Guinness, NGX Group, others rally

Nigeria’s equities market on Wednesday booked its first gain since this week, rising by about N105billion or 0.39percent.

The market recorded bargain hunting activity across sectors except for insurance. Topmost on the list of advancers that caused the Nigerian Bourse positive close are stocks like Guinness Nigeria Plc which increased most, from N80 to N87.90, up by N7.90 or 9.88percent.

Also, NGX Group Plc followed after its share price went up from N21 to N22.35, up N1.35 or 6.43percent.

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In the same vein, Caverton Offshore Support Group rose from N1.04 to N1.14, adding 10kobo or 9.62percent; while Transcorp Plc joined the top-5 advancers after its share price moved from N1.04 to N1.13, adding 9kobo or 8.65percent.

Lasaco Plc was also among the top gainers after its share price rose from 98kobo to N1.03, adding 5kobo or 5.10percent.

The market’s All-Share Index (ASI) and capitalisation increased from preceding trading day’s 49,642.69 points and N26.775trillion respectively to 49,836.51 points and N26.880trillion. The stock market’s year-to-date (YtD) positive return moved up to 16.67percent.

Sterling Bank Plc, Access Holdings Plc, UBA Plc, FBN Holdings Plc and Fidelity Bank Plc were top-5 traded stocks on Wednesday. In 3,725 deals, investors exchanged 367,340,604 shares valued at N3.237billion.

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