Zenith Bank, GTB, Wema shares lift trading as stock market extends gain with N43bn

The Nigerian Stock Exchange, Wednesday, sustained its high activity on trading in second consecutive day of trading which has also lifted the overall All Share Index (ASI) and market capitalisation by 0.5 per cent. Specifically, the All-Share Index gained 125.78 basis points or 0.5 per cent to close at 24.784.95 index points, as against 24,659.17 recorded the previous day, while the market capitalisation of equities appreciated by N43 billion or 0.5 per cent to close at N8.525 trillion from N8.482 trillion.
Meanwhile, a turnover of 159.2 million shares exchanged in 2,698 deals was recorded in the day’s trading. Banking services subsector of the financial services sector was the most active (measured by turnover volume); with 67.4 million shares exchanged by investors in 969 deals.
Volume in the sub-sector was largely driven by activities in the shares of GTB Plc and Wema Bank Plc.
Premium sub-sector boosted by activities in the shares of Zenith Bank Plc followed with a turnover of 45.3 million shares traded in 511 deals.
The number of gainers at the close of trading session was 23, while decliners closed at 11. Tiger Branded Goods Plc led the gainers’ table with 9.96 per cent to close at N2.65 per share, while Eterna Oil Plc followed with a gain of 9.41 per cent to close at N1.86 per share. UAC Property Plc added five per cent to close at N4.20 per share. On the other hand, Skye Bank Plc led the price losers’ table, dropping 5.88 per cent to close at 96 kobo per share.
Air Service Plc trailed with five per cent to close at N1.90 per share, while Custodian and Allied Insurance Plc followed with a loss of 4.87 per cent to close at N3.71 per share.