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Investors’ appetite for stocks remained strong as 37 stocks on the floor of the Nigerian Stock Exchange (NSE) appreciated at the close of trading on Wednesday.
Consequently, the market’s All Share Index (ASI) rose by 1.03 per cent to close at 24,452.23 points while market capitalisation increased by N13 billion to close at 12.743 trillion from N12.613 trillion recorded in the previous session.
This is coming as oil prices continued its rise as investors cheered on the news that global economies are easing up on sanctions and a vaccine to fight COVID-19 had passed a crucial test. According to reports monitored by Daily Sun, a flurry of positive news is driving a spike in crude prices and could be sustained till the end of the week.
Reacting to the performance, market experts said they expect to see gains in the next trading session as investors continue to seek bargain hunting opportunities.
Further analysis of the market’s performance showed that Redstarex led the gainers’ chart with 10 per cent to close at N3.41 per share. Jaiz Bank followed with 9.09 per cent to close at 0.60 kobo, Lasaco increased by 8.70 per cent to close at 0.25 kobo, Wapic rose by 6.90 per cent to close at 0.31 kobo while Transcorp garnered 5.48 per cent to close at 0.77 kobo.
