The Nigerian Exchange (NGX) All-Share Index (ASI) rose by 1.73 per cent, as investors took positions in Airtel Africa and 15 others.
In summary, the All-Share Index (ASI) grew by 774.25 absolute points, representing an increase of 1.73 per cent to close at 45,430.14 points. While the overall market capitalisation value gained N417 billion to close at N24.477 trillion.
The market gain was driven by price appreciation in large and medium capitalised stocks amongst which are; Airtel Africa, SEPLAT Energy, Union Bank of Nigeria (UBN), Zenith Bank and NEM Insurance.
Analysts at Afrinvest Limited said that “In tomorrow’s trading session we expect the positive sentiment to linger.”
However, market sentiment, as measured by market breadth, was negative as 17 stocks declined, relative to 16 gainers. Airtel Africa recorded the highest price gain of 10 per cent to close at N1,155.50, per share. Cornerstone Insurance followed with a gain six per cent to close at 53 kobo, while Courteville Business Solutions up by 5.26 per cent to close at 40 kobo, per share.
UBN rose by 4.46 per cent to close at N5.85, while SEPLAT Energy appreciated by 4.36 per cent to close at N720.10, per share. On the other hand, FTN Cocoa processors led the losers’ chart by 7.69 per cent, to close at 36 kobo, per share. Consolidated Hallmark Insurance followed with a decline of 7.25 per cent to close at 64 kobo, while Regency Alliance Insurance declined by 6.67 per cent to close at 42 kobo, per share.
Japaul Gold and Ventures lost 4.76 per cent to close at 40 kobo, while Jaiz Bank depreciated by 4.55 per cent to close at 63 kobo, per share.
The total volume of trades increased by 7.5 per cent to per cent to 252.938 million units, valued at N8.925 billion, and exchanged in 4,218 deals. Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 25.456 million shares valued at N649.356 million. Dangote Cement followed with 24.453 million shares worth N6.481 billion, while FBN Holdings (FBNH) traded 23.094 million shares valued at N277.150 million.
Fidelity Bank traded 21.138 million shares valued at N57.157 million, while FCMB Group transacted 12.933 million shares worth N38.790 million.