Equity market gains N77bn

Transactions on the floor of Nigerian Stock Exchange yesterday sustained growth profile  gaining N77 billion .

The seaming strength returning to the market after weeks of decline induced by the coronavirus pandemic at the peak of earnings reporting season has left many stocks unattractive and they now offer high dividend yields. Operators said that despite remote trading investors are taking advantage of the prevailing low price to accumulate fundamentally sound stock.

The trading result showed that Market Capitalisation of listed equities increased by N77 billion or 0.70 per cent to N10.982 trillion from N10.905 trillion reported the previous day. The  NSE All Share Index also appreciated by 147.07 basis points to 21073.26 points from 20925.19 points traded on Tuesday.

Investors traded 346.409 million shares worth N5.216 billion in 4660 deals against  1.442 billion shares valued at N5.569 billion in 4647 deals.

A review of the investment showed that Lafarge Wapco Plc led gainers table during the day, gaining N1.05 kobo to close at N11.80 kobo, Dangote Sugar Refinery followed with a gain of N0.85 kobo to close at N9.75 kobo, Stanbic IBTC gained N0.55 kobo to close at N24.50 kobo, Flour Mills Nigeria Plc gained N0.50 kobo to close at N21.50 kobo while Ecobank Transnational Incorporated added N0.40 kobo to close at N4.40 kobo.

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