The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

The bulls continued to dominate trading on the Nigerian Stock Exchange (NSE) on Wednesday with the key market indices improving further by 0.15 per cent.

Specifically, the NSE All-Share Index which opened at 25,291.73 inched higher by 38.37 points or 0.15 per cent to close at 25,330.10.

Also, the market capitalisation rose by N20 billion or 0.15 per cent to close at N13.214 trillion from N13.194 trillion achieved on Tuesday.

The uptrend was impacted by gains recorded in some large and medium capitalised stocks, Which includes Stanbic IBTC, Northern Nigeria Flour Mills, UACN, Vitafoam and Guinness.

Market breadth closed positive with 24 gainers in contrast with eight losers.

FTN Cocoa Processors dominated the gainers’ chart in percentage terms, appreciating by 10 per cent to close at 22k per share.

NNFM followed with 9.76 per cent to close at N4.50, while University Press grew by 9.56 per cent to close at N1.49 per share.

Champion Breweries garnered 7.06 per cent to close at 91k, while UACN appreciated by 6.48 per cent to close at N5.75 per share.


Conversely, Cornerstone Insurance led the laggards’ chart in percentage terms, losing 9.68 per cent to close at 56k per share.

Africa Prudential followed with 6.67 per cent to close at N4.20, while Wapic Insurance lost 2.94 per cent to close at 33k per share.

Learn Africa dipped 2.73 per cent to close at N1.07, while Custodian Investment shed 2.04 per cent to close at N4.80, per share.

Fidelity Bank drove the activity chart having accounted for 26.57 million shares valued at N47.27 million.

United Bank for Africa sold 19.48 million shares worth N125.97 million, while Access Bank accounted for 18.95 million shares valued at N121.29 million.

FBN Holdings traded 17.83 million shares worth N89.19 million, while Zenith Bank transacted 10.20 million shares valued at N172.79 million.

In all, the volume of shares transacted declined by 28.09 per cent with an exchange of 180.73 million shares worth N1.36 billion in 3,411 deals.

This was in contrast with 251.34 million shares valued at N1.17 billion exchanged in 3,713 deals on Tuesday.

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