Nigeria’s equities market which closed flat on Tuesday was able to gain about N8billion on Wednesday, July 14 as investors showed interest in shares of Capital Hotels Plc and other counters.
At the close of trading on Wednesday, the shares of Capital Hotels Plc increased most on the Bourse, from N2.40 to N2.64, adding 24kobo or 10percent.
Recall that last month, the Nigerian Exchange Limited (NGX) was notified by the Board of Directors of Capital Hotel Plc that 11 Plc (formerly Mobil Oil Nigeria Plc) is to purchase 51percent stake in Capital Hotels Plc (owners of Sheraton Abuja Hotel) at a premium price of N7 per share as agreed at the Emergency Meeting of the Board of Directors of Capital Hotels Plc held on June 14, 2021.
Other stocks that helped push the market higher by 0.04percent and dipping the negative return year-to-date (ytd) to -5.96percent at the close of the trading session include NCR Nigeria Plc which rallied from N2.73 to N3, adding 27kobo or 9.89percent.
Read also: Nigeria’s equities market halts rally
Other stocks on the top advancers list are: Unity Bank Plc which moved from 59kobo to 63kobo, up by 4kobo or 6.78percent; Total Nigeria Plc also moved from N158.40 to N168, adding N9.60 or 6.06percent; and FTN Cocoa Processors Plc which increased from 39kobo to 41kobo, up by 2kobo or 5.13percent.
Despite top laggards like Linkage Assurance Plc, Cornerstone Insurance Plc, Oando, Consolidated Hallmark Insurance (CHI) Plc, and Access Bank Plc, the NGX All-Share Index and Market Capitalisation which stood at 37,857.24 points and N19.724trillion respectively the preceding trading day increased to 37,872.55 points and N19.732trillion.
In 3,610 deals, investors exchanged 197,231,557 units value at N2.139billion. UBA, Access Bank, Zenith Bank, UPDC, GTCo were the most traded stocks Wednesday on the Nigerian Exchange Limited.
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