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Nigeria’s stock market maintains bullish run as ASI crosses 71,000 mark

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The Nigerian capital market continued its bullish run on Wednesday with the All-Share Index (ASI) crossing the 71, 000 mark at the close of the day’s trading.

The ASI rose to 71,014.34 from 70,840.72 after five hours of business on the trading floor today.

Similarly, the market capitalization increased today by N93.48 billion to N39.05 trillion from N38.96 trillion recorded the previous trading day.

The market turnover also rose from N3.37 billion to N6.16 billion in 6,172 deals.

The market breadth closed positive as 37 stocks advanced and 19 declined, while 60 others remained unchanged.

Oando and Omatek Plc topped the gainers chart with 10 percent growth each in their share prices to close at N11.55 and N0.77 from the previous N10.50 and N0.70 per share.

READ ALSO: Investors in Oando, Caverton, others lose N241.8bn as Nigeria’s stock market tumbles

Mecure Industries, C&I Leasing, and Meyer PLC completed the list with 9.92 percent, 9.87 percent, and 9.73 percent increases in share prices respectively.

Scoa Nigeria led the losers’ table with a 9.68 percent cut in share price to close at N1.12 from the previous N1.24 per share.

Sovereign Trust Insurance, Cornerstone Insurance, and Cadbury Nigeria Plc followed with 8.82 percent, 4.83 percent, and 4.17 percent drop in their share prices.

On Wednesday, Oando Plc traded 27.967 million shares valued at N315.26 million in 374 deals followed by AIICO Insurance with 23.043 million worth N16.392 traded by investors in 68 deals.

Investors in Japaul Gold Ventures traded 20.377 million shares valued at N38.354 million in 212 deals.

On the value of traded stocks, Nestle Plc raked in N2.343 billion followed by MTNN with N496 million and GTCO with N383,906,155 in 248 deals.

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