Stock market rises 0.56% as investors gain N598bn

The stock market sustained its bullish trend on Wednesday, gaining 0.56 per cent and adding about N598 billion to investors’ wealth.

The rally was supported by price appreciation in shares of Academy Press, NCR Nigeria, Tripple Gee, Tantalizer, Deap Capital Management, alongside 42 other equities.

As a result, total market capitalisation increased from N106.182 trillion to N106.780 trillion. In the same vein, the All-Share Index (ASI) advanced by 934.62 points, or 0.56 per cent, to close at 166,771.95, up from 165,837.33 recorded in the previous session.

Market breadth closed positive, with 47 stocks gaining against 28 losers.

Academy Press topped the gainers’ chart with a 10 per cent rise to close at N8.25 per share. NCR Nigeria followed closely, gaining 9.98 per cent to N106.30, while Tripple Gee appreciated by 9.95 per cent to settle at N4.86.

Tantalizer added 9.93 per cent to close at N2.99, and Deap Capital Management rose by 9.92 per cent to end the session at N3.99 per share.

On the losers’ side, May & Baker declined by 9.79 per cent to close at N28.55. WAPIC Insurance fell by 6.76 per cent to N3.31, Livestock Feeds dropped by 6.67 per cent to N7.00, while PZ Cussons shed 6.52 per cent to N54.50.

Eterna also dipped by 6.30 per cent to close at N34.20 per share.

Trading activity showed mixed performance, with market deals increasing by 13 per cent, while trading volume declined by 33 per cent and transaction value fell by 12 per cent.

A total of 761.94 million shares valued at N29.9 billion were exchanged in 55,751 deals, compared with 1.131 billion shares worth N33.5 billion traded in 49,216 deals in the previous session.

In terms of activity, Access Corporation led by volume, trading 53.41 million shares to account for 7.01 per cent of total volume.

Aradel Holdings dominated the value chart, recording trades worth N8.99 billion, representing 30.12 per cent of the day’s total value.