Bulls return as equity market gains N157bn
Omeiza Bilal
The Domestic equity market on Thursday remained on positive trend, appreciating by N157 billion as gain recorded in the shares price of some small and medium stocks impacted positively in the market
Market capitalisation of listed equities appreciated by 0.27 per cent to N59.120 trillion from N58.963 trillion reported the previous day.
As a result year to to date return went to 39.84 per cent as NGX printed higher gain of 35 companies against 18 losers.
The NGX All Share Index also went up by 278.22 basis points to 104562.06 points from 104283.84 points traded on Wednesday.
An analysis of the investment showed that
Morison industry led gainers table, growing by 10 per cent to close at N1.76 per share, Ikeja Hotel followed with a gain of 9.91 per cent to close at N6.43 per share, Julius Berger added 9.73 per cent to close at N66.00 per unit, Omatek grew by 9.72 per cent to close at N0.79 per unit, UPDC REIT gained 9.57 per cent to close at N5.15 per share.
On the contrary, FTNCocoa recorded highest loss, dropping by 9.60 per cent to close at N1.60 per unit, ABC Transport followed with account of 9.41 per cent to close at N0.77 per share, Guinea Insurance down by 7.89 per cent to close at N0.35 per share,NGX group dipped by 6.75 per cent to close at N21.40 per share, Chams Plc fell by 6.34 per cent to close at N1.90 per unit.
Volume of trades increased by 123.369 million , representing 24.69 per cent as investors traded 623.075 million shares valued at N16.954 billion in 10257 deals against 499.706 million shares cost N12.410 billion exchanged hands the in 10260 deals.
Transactions in the shares of Zenith Bank led market activities with 88.355 million shares valued at N3.887 billion, GTCO Plc followed with account of 78.675 million shares valued at N4.114 billion, AccessCorp traded 56.742 million shares cost N1.392 billion, United Bank for Africa exchanged 54.937 million shares cost N1.538 billion while Fidelity Bank sold a total of 50.780 million shares cost N504.233 million.
