Mixed sentiments continued in the Nigerian equities market trading on Wednesday as investors gained N1 billion at the close of the day’s trading session.
As expected, the market’s All Share Index (ASI) rose by 2.01 points, representing a gain of 0.004 percent to 49,627.72 points.
Similarly, investors gained N1 billion as market capitalisation surged to N26.768 trillion.
According to market analysts, the ASI and market cap upswing majorly attributed to gains recorded in medium and large capitalised stocks, including Lafarge Africa, Nigerian Exchange Group, Multiverse Mining and Exploration, NPF Microfinance Bank and Cutix.
But then, market breadth closed negative as 16 stocks lost relative to 13 gainers.
Multiverse Mining and Exploration recorded the highest price gain of 9.69 per cent to close at N2.83, per share followed by NPF Microfinance Bank which gained 7.84 percent to close at N1.65 even as Pharma-Deko Plc share price rose by 5.13 percent to close at N2.05, per share.
Also, Cutix share price rose by 5.12 percent to close at N2.26, while Fidelity Bank’s appreciated by 3.02 percent to close at N3.41, per share.
Conversely, Red Star Express led the losers’ chart by 10 percent slide in share price to close at N2.43 per share PCaverton Offshore Support Group followed with a share price decline of 4.55 percent to close at N1.05 while Livestock Feeds lost 4.31 percent to close at N1.11 per share.
Sovereign Trust Insurance share price declined 3.70 percent to close at 26 kobo, while Lasaco Assurance lost 3.13 percent to close at 93 kobo per share.
The total volume of shares traded increased by 85.1 percent to 160.244 million units, valued at N1.488 billion and transacted in 3,847 deals.
Commenting on market outlook in the days ahead, analysts at GTI Securities Limited projected: “Domestic market records marginal growth as uncertainty trail investors’ activities. We expect cautious trading to continue pending any significant changes in the economic conditions.”
