Nigerian stocks lifted higher on Wednesday, with the benchmark index rising 0.74 per cent and touching its peak since May 17, thanks to a surge of interest in bellwether equities, even though the size of trade was smaller than that of previous session’s.

The day’s positive show hinged on the performances of Okomu Oil, Dangote Cement and WAPCO.

“In the coming trading session, we expect the positive performance to be extended on the back of bargain hunting activities in the market,” analysts at investment bank Afrinvest said.

All the five sectorial indices tracked by the bourse appreciated, with the industrial index coming top of the pack, following a jump of 1.33 per cent to 1,952.10 basis points.

A positive market breadth was recorded as 25 gainers emerged against six laggards. The rest 65 participating stocks saw no price movement.

Rising 289.25 basis points, the all-share index closed at 39,170.95. In the same vein, market capitalisation climbed by N150.8 billion to N20.418 trillion. It closed at 39, 306.47 on May 17.

Year to date, the index is down by 2.73 per cent.

TOP FIVE GAINERS

Cutix led gainers, growing by 10 per cent to close at N2.53. Okomu Oil gained 9.75 per cent to close at N116.50. Union Bank rose by 9.43 per cent to N5.80. Honeywell leapt to N1.26, notching up 8.62 per cent in the process. ABC Transport completed the top 5, climbing up by 8.11 per cent to N0.40.

TOP FIVE LOSERS

Sovereign Insurance topped losers, declining by 3.57 per cent to close at N0.27. Jaiz Bank shrank by 3.39 per cent to end the day at N0.57. FCMB dropped to N3.10, losing 1.59 per cent. FBN Holdings dipped to N7.20, recording 1.37 per cent loss. Mansard closed at N0.83, going down by 1.19 per cent.

TOP 5 TRADES

249.545 million shares worth N2.184 billion were traded on the NSE in 6,090 deals.

Japaul Gold was the most preferred stock on the NSE with 28.054 million units of its stocks worth N22.724 million traded in 61 deals. 21.896 million units of Access Bank shares priced at N190.431 million exchanged hands in 247 transactions. Mansard had 13.263 million shares valued at N16.399 million traded in 94 deals. UBA traded 13.228 million shares estimated at N113.099 million in 221 transactions. Transcorp traded 12.788 million shares valued at N12.134 million in 134 deals.

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