Investors’ bargain hunting activities buoyed trading in the equity market on the Nigerian Stock Exchange on Wednesday, halting three days consecutive bearish trends.
The All Share Index appreciated 0.80 per cent to close at 29,812.91 points, in contrast to the depreciation of 0.89 per cent recorded the preceding day.
In the same vein, market capitalization added N81.6billion to close at N10.2trillion.
The appreciation recorded in the share prices of FBN Holdings, Guaranty Trust Bank, Transcorp, Access Bank and ETI were mainly responsible for the gain recorded in the index.
Activities however slowed as value traded declined by 13.5 per cent to N2.8billion despite an 18.5 per cent increase in the volume of shares traded.
Investment analysts at United Capital noted that the market appears to be riding on quarter-end positioning and portfolio rebalancing by investors, as evidenced by thinner trades concentrated on select counters.
Forte Oil Plc led the gainers’ table with N3.03 to close at N194.03 per share, followed by Julius Berger Plc with N2.42 to close at N50.93 per share.
7UP Plc added N2.00 to close at N142 per share, while Dangote Cement Plc gsined N1.89 to close at N194 per share.
Guaranty Trust Bank Plc was up 93 kobo to close at N23.25 per share.
Conversely, Ashaka Cement Plc depreciated N1.05 to close at N19.95 per share, while Champion Breweries Plc lost 23 kobo to close at N4.46 per share.
UACN Property Plc fell 22 kobo to close at N4.28 per share, while ETI Plc dropped 19 kobo to close at N16.51 per share.
Fidson Healthcare Plc was down 17 kobo to close at N2.27 per share.
A total of 305.8 million shares valued at N2.86 billion were exchanged in 4,640 deals.