By Chinwendu Obienyi
Amidst gains in top tier stocks, equities trading at the Nigeria’s Exchange Limited (NGX) on Wednesday, extended a nine-day winning streak as the benchmark index gained 0.41 percent to settle at 49,910.18 points.
Daily Sun analysis of trading showed that gains recorded in the shares of Nestle, Geregu and GTCO sustained the market’s bullish momentum.
As a result, the year-to-date (YTD) return rose to 16.84 per cent, while the market capitalisation gained N111.16 billion to close at N27.198 trillion from N27.074 trillion.
At the close of trading however, trade turnover settled lower compared to the previous session as the volume of stocks traded stood at 498.72 million shares while the value of stocks traded stood at N3.88 billion exchanged in 3,989 deals.
Veritas Kapital topped the activity chart with the sale of 34.85 million units worth N69.70 million. AccessCorp sold 28.93 million units valued at N24.82 million while GTCO traded 25.74 million units worth N58.75 million.
Investors’ appetite for stocks remained positive as 21 stocks appreciated in value while 5 others depreciated.
Cornerstone led the gainers’ chart with 10 per cent to close at 0.55 Kobo per share, Champion Breweries followed with 10 per cent to close at N5.17, Geregu rose by 9.96 per cent to close at N127, Wema Bank added 9.94 per cent to close at N3.54 while Neimeth garnered 7.41 per cent to close at N1.45.
On the other hand, FTN Cocoa topped the losers’ chart with 3.45 per cent to close at 0.28 kobo per share. Wapic was next with 2.44 per cent to close at 0.40 Kobo, Sterling Bank lost 1.42 per cent to. close at N1.39 while PZ fell by 0.44 per cent to close at N11.35.