Lagos: The stock market extended its positive momentum on Wednesday, posting a 0.56 per cent gain.
This gain added N598 billion to investors’ portfolios.
The market’s upward movement was driven by gains in equities such as Academy Press, NCR Nigeria, Tripple Gee, Tantalizer, Deep Capital Management, and 42 others.
The market capitalisation, which opened at N106.182 trillion, closed higher at N106.780 trillion.
Similarly, the All-Share Index (ASI) rose by 0.56 per cent, advancing by 934.62 points to close at 166,771.95, compared to 165,837.33 recorded on Tuesday.
The market breadth also closed positive with 47 gainers and 28 losers.
Academy Press led the gainers’ chart by 10 per cent, closing at N8.25, NCR Nigeria trailed by 9.98 per cent, settling at N106.30, while Tripple Gee gained by 9.95 per cent, finishing at N4.86 per share.
Similarly, Tantalizer increased by 9.93 per cent, ending the session at N2.99, and Deap Capital Management soared by 9.92 per cent, closing at N3.99 per share.
Conversely, May and Baker led the losers’ chart by 9.79 per cent, finishing at N28.55, WAPIC Insurance followed by 6.76 per cent, ending the session at N3.31, and Livestock Feeds shed by 6.67 per cent, closing at N7 per share.
Also, PZ Cussons dipped by 6.52 per cent, settling at N54.50, and Eterna lost by 6.30 per cent, closing at N34.20 per share.
Analysis of market activity revealed 13 per cent growth in market deals, but a 33 per cent decline in volume and a 12 per cent drop in value.
A total of 761.94 million shares worth N29.9 billion were traded across 55,751 deals, compared with 1.131 billion shares valued at N33.5 billion that were exchanged in 49,216 transactions earlier recorded on Tuesday.
On the activity, chat, Access Corporation recorded the highest volume with 53.41 million shares traded, accounting for 7.01 per cent of total volume traded for the day.
Aradel Holdings recorded the highest value at N8.99 billion, accounting for 30.12 per cent of the total value traded for the day.
