Equities investors rake N2.27bn profit from NGX on Wednesday



Uba Group

Stock market investors on the Nigerian bourse smiled to the bank on Wednesday with N2.27 billion.

It was the fourth consecutive time the investors will reap from their investments in the market in recent times, even as the All Share index year-to-date (YTD) return rose to 27.79 percent, while the market capitalization closed at N35.84 trillion.

The local bourse All-Share index gained 0.01 percent to close at 65,492.81 points.

Gains in Dangote Sugar Plc (+6.95%), UCAP (+0.35%) and Transnational Corporation Plc (+7.14%) outweighed losses in tier -one banking institutions, Zenith Bank Plc (-1.18%), GTCO (-1.78%) and Access Corporation Plc (-0.30%) keeping the market in the green.

Analysis of the day’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 1.80 percent.

A total of 348.32 million shares valued at N4.05 billion were exchanged in 6,237 deals.

TRANSCORP (+7.14%) led the volume and value charts with 144.71 million units traded in deals worth N682.61 million.

Market breadth closed negative at a 1.27-to-1 ratio with declining issues outnumbering advancing ones.

Conoil Plc (-10.00%) led eighteen (18) others on the laggard’s log while Transcorp Hotels Plc (+8.99%) topped fourteen (14) others on the leader’s table.