The Nigerian stock market extended its positive trend, appreciating by N307 billion amid increased buying interest.
Market capitalisation rose by N307 billion or 0.45 per cent to close at N68.412 trillion, compared with N68.105 trillion on Tuesday.
Similarly, the All-Share Index (ASI) also climbed by 488.73 points or 0.45 per cent, to settle at 108,849.83.
The uptrend was driven by strong buying interest in medium and large cap stocks such as GTCO, Tantalizer, Fidelity Bank, Zenith Bank and Nigerian Breweries.
This marks the fourth consecutive session of gains.
In spite the upward trend, the market breadth also closed positive with 52 gainers and 17 losers.
On the gainers’ chart, FG142027S1 rose by 22.75 per cent, ending the session at N120.00 while UPDCREIT soared by 10 per cent, to close at N6.60 per share.
Meyer Plc also grew by 10 per cent, closing at N8.80 and Beta Glass increased by 9.98 per cent, settling at N146.05 per share.
Also, The Initiates Plc gained by 9.95 per cent, closing at N6.08 per share.
On the decliners’ chart, Deap Capital Management dropped by 10 per cent, settling at N1.08 while Veritas Kapital Assurance fell by 9.09 per cent, ending the session at N1.00 per share.
Linkage Assurance lost by 6.61 per cent, closing at 1.13 and Africa Prudential shed by 5.60 per cent to close at N16.00 per share.
Similarly, UPDC Real Estate Investment Trust declined by 4.46 per cent to close at N3 per share.
587.47 million shares worth N18.66 billion were exchanged across 17,496 transactions.
This is compared to 475.46 million shares worth N13.899 billion that was exchanged across 17,575 deals earlier.
Transactions in the shares of Guaranty Trust Holding Company topped the activity chart with 98.64 million shares worth N6.57 billion.
Tantalizer followed with 75.48 million shares valued at N175.22 million while Fidelity Bank traded 40.47 million shares worth N816.04 million.
Zenith Bank sold 38.47 million shares valued at N1.87 billion and Nigerian Breweries transacted 30.51 million shares worth N1.64 billion.
NAN
