Positive sentiments persisted in the domestic equities market for the third consecutive trading session with a gain of N24 billion, following interests in Mobil Nigeria and 31 others.
The All-Share- Index (ASI) expands by 45.10 absolute points, representing an increase of 0.11 percent to close at 40,341.05 points. Similarly, the overall market capitalisation value gained N24 billion to close at N21.094 trillion.
The market gain was piloted by price appreciation in medium and large capitalised stocks amongst which are; Mobil Nigeria, Flour Mills of Nigeria, BOC Gases, Seplat Petroleum Development Company (SEPLAT) and Ardova Plc.
Analysts at Afrinvest Limited maintained that, “We believe the positive sentiment would be sustained till the close of the week.”
Market sentiment, as measured by market breadth, was positive, as 32 stocks gained, relative to 16 losers. Academy Press, Sovereign Trust Insurance and Veritas Kapital Assurance recorded the highest price gain of 10 percent each, to close at 33 kobo, 22 kobo and 22 kobo, respectively, per share. BOC Gases followed with a gain 9.92 percent to close at N12.52, while Champion Breweries rose by 9.80 percent to close at N1.12, per share.
On the other hand, Chellarams Plc led the losers’ chart by 9.96 percent, to close at N2.26, per share. Livestock Feeds followed with a decline of 9.74 percent, to close at N1.76, while Consolidated Hallmark Insurance shed 8.82 percent to close at 31 kobo, per share.
FTN Cocoa Processors shed 5.88 percent to close at 64 kobo, while Cutix lost five percent to close at N2.09, per share. However, the total volume traded declined by 59.9 percent to 468.146 million units, valued at N6.963 billion, and exchanged in 5,697 deals.
Transactions in the shares of Zenith Bank topped the activity chart with 45.773 million shares valued at N1.186 billion. Lasaco Assurance followed with 40.725 million shares worth N17.024 million, while United Bank for Africa (UBA) traded 31.816 million shares valued at N283.105 million.
Japaul Gold and Ventures traded 20.975 million shares valued at N26.638 million, while Sovereign Trust Insurance transacted 19.063 million shares worth N4.194 million.
