The Nigerian equities market yesterday gained N325 billion to extend bullish run into the fourth consecutive trading session as bulls continue to garner momentum.
The All-Share- Index (ASI) gained 622.09 absolute points, representing a gain of 1.54 percent to close at 40,963.14 points, with Month-to-Date and Year-to-Date returns both increasing to 1.7 percent. Similarly, the overall market capitalisation value also appreciated by N325 billion to close at N21.419 trillion.
The uptrend was driven by price appreciation in medium and large capitalised stocks amongst which are; Seplat Petroleum Development Company (SEPLAT), Dangote Cement, MTN Nigeria Communications, Ardova Plc and NASCON Allied Industries.
Market sentiment, as measured by market breadth, was positive, as 49 stocks gained, relative to seven losers. Champion Breweries recorded the highest price gain of 9.82 percent, to close at N1.23, per share. NASCON Allied Industries followed with a gain 9.72 percent to close at N17.50, while Japaul Gold and Ventures rose by 9.45 percent to close at N1.39, per share.
AXA Mansard Insurance went up by 9.42 percent to close at N1.51, while Ardova appreciated by 9.25 percent to close at N21.85, per share. On the other hand, Courteville Business Solutions led the losers’ chart by 8.33 percent, to close at 22 kobo per share. Neimeth International Pharmaceuticals followed with a decline of 6.36 percent, to close at N2.06, while Union Diagnostic and Clinical Services shed 3.13 percent to close at 31 kobo per share.
Jaiz Bank shed 2.78 percent to close at 70 kobo, while John Holt lost 1.96 percent to close at 50 kobo per share.
The total volume traded rose by 72.9 percent to 809.362 million shares, worth N8.906 billion, and traded in 6,706 deals. Transactions in the shares of Transnational Corporation of Nigeria (Transcorp) topped the activity chart with 136.578 million shares valued at N130.187 million, per share. Mutual Benefits Assurance followed with 70.591 million shares worth N27.389 million, while Guaranty Trust Bank traded 68.993 million shares valued at N2.252 billion.
Lafarge Africa traded 61.852 million shares valued at N1.424 billion, while FBN Holdings (FBNH) transacted 44.534 million shares worth N329.473 million.
