Equity market up by 0.58% as investors gain N42.41bn

The equities market closed bullish on Wednesday as Nigerian Stock Exchange All Share Index (NSE ASI) gained 151.61 basis points, representing an increase of 0.58 per cent to close at 26,116.79 basis points.
Similarly, the Market Capitalization gained N52.41 billion, representing an increase of 0.58 per cent to close at N9.03 trillion.
Commercial banks led by the Zenith bank Plc, Guaranty Trust Bank among others on Wednesday dragged the equities market upward when both banks traded a total of 79.628 million shares valued at N1.667 billion.
Unilever Nigeria led the gainers’ table when it added by 169 kobo to close at N33.5 per share, followed by Forte Oil, which added 100 kobo to close at N44.00 per share, Guinness Nigeria raked in 99 kobo to close at N61.00 per share, UAC of Nigeria grabbed 65 kobo to close at N14.4 per share, while Ashaka Cement Company recorded 52 kobo to close at N10.96 per share, among others.
On the other hand, Total Oil led decliners’ table when its shares went down by N10.00 to close at N255.00 per share, followed by 7Up Bottling Company which slipped by 475 kobo to close at N90.25 per share, National Salt Company of Nigeria dropped 42 kobo to close at N8.05 per share, UAC Properties lost 5 kobo to close at N1.75 per share, while Continental Insurance Company depreciated by 4 kobo to close at N1.07 per share, among others.
All things being equal, Zenith Bank emerged the most traded equity on Tuesday, the second time for the week, with an exchange of 41.879million shares worth N652.181 million. Guaranty Trust Bank seconded, having accounted for 37.749 million shares valued at N1.014 billion, United Bank for Africa sold 34.028 million shares valued at N205.209 million; Transnational Incorporated sold 18.262 million shares valued at N16.501 million while FBN Holdings traded 16.397million shares worth N56.977 million.
A total of 264.493 million shares worth N2.896 billion in 3,958 deals were traded by investors on Wednesday compared with 191.023 million shares worth N2.129 billion in 3,392.00 deals traded on Tuesday.