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Despite recession news, market closes strong as investors gain N37bn

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Despite the sad news today that the Nigerian economy has officially entered recession, the market maintained its bullish run today and it gained N37 billion following the gain of N43 billion yesterday.

The Market Capitalization which closed at N9.442 trillion on Tuesday ended the Wednesday trading at N9.479 trillion. The All Share Index (ASI) which closed at 27,493.12 basis points on Tuesday rose to 27,599.03 basis points on Wednesday trading.

A total of 262.615 million shares were traded in 3,302 deals with the value attached of N4.881trillion.

The most appreciated stock of the day was SEPLAT which opened at N275 to close at N303.18 as it gained N28.18; 7UP which opened the day trading at N127.99 closed at N140 having added N12.01per share; PRESCO rose from N         41.5 opening value to close at N45.3 as it was marked up by N3.8.

Similarly, GUARANTY gained N0.4 per share to close at N26.5 from its opening value of N26.1 while DANGCEM which opened the day trading at N175.5 per share closed at N175.89 as it was marked up by N0.39 per share by investors.

The topmost decliner of the day was JBERGER which came down from its opening value of N48.39 to close at N43.69 as it lost N4.7 per share; TOTAL followed with a loss of N1.92 and from its opening value of N241.92    , it closed at N240; CUSTODYINS which opened the day N3.95 closed at N3.85 as it recorded a loss of N0.1 per share.

Also, HONYFLOUR came to the market at N1.4 but closed at N1.33 as it recorded a loss of N0.07 while AIRSERVICE which opened at N2.07, closed at N2.00 as it was marked down by N0.07

The most traded stock of the day was ACCESS which accounted for 39.932 million shares  valued at N221.596 million; DIAMONDBNK traded 34.240 million shares in N36.040 million; GUARANTY 33.289 million shares at N883.220 million; ZENITHBANK traded 24.334 million shares at N363.345 million while FBNH traded N18.635 million in N55.893 million.

 

 

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