Domestic equities gain N114bn

Domestic equity market Thursday closed higher, gaining N114 billion as bulls dominated trading activities.

Market capitalisation of listed equities increased by 0.20 per cent to N56.473 trillion from N56.359 trillion reported the previous day.

The NGX All Share Index also appreciated by 201.70 basis points to 99832.25 points from 99630.51 points reported the previous day.

The stocks positive performance was driven by gain recorded in the shares of GTCO Plc, FBNHoldings, Nigerian Breweries, Oando Plc, United Bank for Africa, Zenith Bank, Wapco Stanbic IBTC and other 22 companies.

As a result, year to date return went to 33.51 per cent, recording 30 gainers against 17 losers.

A review of the investment showed that Nigerian Breweries led gainers table with 10 per cent to close at N31.90 per share, Unity Bank followed with a gain of 9.91 per cent to close at N1.22 per share, NEM Insurance gained 9.77 per cent to close at N9.55 per unit, Thomas Way added 9.43 per cent to close at N1.74 per unit, UACN gained 8.65 per cent to close at N14.45 per share. 

On the contrary, Ekobank Transnational Incorporated topped losers’ chart, dropping by 9.92 per cent to close at N21.35 per share, Daar Communications trailed with a loss of 8.77 per cent to close at N0.52 per share, C&I Leasing, RTBriscoe and Custodian Insurance fell by 5.08 per cent each to close at N0.56 per cent and N9.35 per share respectively.

Volume of trades declined by 346.366 million, representing 40.79 per cent as investors traded 502.599 million shares valued at N8.653 billion in 9686 deals against 848.965 million shares cost N16.551 billion in 8064 deals.

Transactions in the shares of Zenith Bank led market activities with 71.220 million shares valued at N2.520 billion, AIICO Insurance followed with account of 67.300 million shares cost N6.594 million, AccessCorp traded 58.526 million shares worth N1.125 billion, GTCO Plc exchanged 46.857 million shares cost N1.964 billion while United Bank for Africa traded 23.169 million shares worth N520.570 million.