Stock market routes north by 0.48%

Nigeria’s equities market on Wednesday failed to sustain the preceding day’s record negative, after rising by 0.48 percent or N286billion at the close of trading session on the local Bourse.

Stocks like Tantalizer, Lafarge Africa, Access Holdings, Cutix and UBA were actively traded stocks on Wednesday. In 9,420 deals, stock investors exchanged 521,918,004 shares worth N19.932 billion.

Meanwhile, the market’s rally was driven by counters like Golden Guinea Breweries, Thomas Wyatt, FTN Cocoa, Deap Capital, and NEM Insurance and other major advancers.

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Golden Guinea Breweries rallied from N4.07 to N4.47, adding 40kobo or 9.83 percent. Thomas Wyatt increased from preceding day’s low of N1.73 to N1.90, adding 17 kobo or 9.83 percent.

Also, FTN Cocoa rose from N1.79 to N1.96, adding 17kobo or 9.50 percent. Deap Capital share price advanced from N1.06 to N1.16, adding 10 kobo or 9.43 percent, while NEM Insurance increased from N8.60 to N9.40, up by 80 kobo or 9.30 percent.

The market’s performance indicators – Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation increased from preceding trading day’s lows of 97,702.56 points and N59.226trillion respectively to 98,174.99 points and N59.512 trillion.