Bulls return as equity market gains N402bn
Trading activities on the floor of Nigerian Exchange (NGX) closed northward, appreciating by N402 billion, as gains recorded in small, medium and highly capitalised stocks boosted activities of the market.
The gains recorded in the shares of MTN Nigeria, Dangote Cement, Dangote Sugar, Eterna Plc, Stanbic, PZ Cusson, Ikeja Hotel, Multiverse, IMG among others impacted positively on the market during the day.
Market capitalisation of listed equities increased by 0.99 per cent to N40.769 trillion from N40.367 trillion reported on Wednesday.
The NGX All Share Index also appreciated by 733.94 basis points to 74502.58 points from 73768.64 points reported in the previous day.
An analysis of the investment during the day showed that Ikeja Hotel led gainers table with 10 per cent to close at N5.50 per share, Multiverse followed with a gain of 9.96 per cent to close at N16.89 per share, Julius Berger gained 9.94 per cent to close at N39.80 per unit, IMG added 9.87 per cent to close at N12.25 per share, Mcnichols increased 9.86 per cent to close at N0.78 per unit.
On the contrary, UACN recorded the highest loss during the day, declining by10 per cent to close at N12.15 per share, JohnHolt trailed with a drop of 9.73 per cent to close at N2.32 per unit, DeepCapital declined by 9.38 per cent to N0.58 per unit, RTBriscoe down by 8.96 per cent to close at N0.61 per unit, United Capital sheds 7.53 per cent to close at N22.10 per share.
Volume of trades declined by 48.337 million, representing a drop 11.17 per cent as investors traded 384.576 million shares valued at N5.666 billion in 8336 deals against 432.913 million shares valued N12.937 billion exchanged the previous day in 8901 deals.
Transactions in the shares of Jaiz Bank led market activities with 49.400 million shares worth N83.190 million, Zenith Bank followed with 27.936 million shares valued at N1.055 billion, Veritas Kapital traded 21.686 million shares cost N7.836 million, Transnational Corporation of Nigeria (Transcorp) 19.395 million shares cost N165.426 million, United Bank for Africa traded 14.640 million shares worth N367.411 million.
