Domestic equities market gain N326bn

The domestic equity market on Thursday returned to a bullish run, appreciating by N326 billion.

Market capitalisation of listed equities increased by 0.19 per cent to N154.442 trillion from N154.136 trillion reported the previous day.

The NGX All Share Index appreciated by 100473.17 basis points to 239156.09 points from 238682.92 points traded on Wednesday.

Although the market breadth was negative with 19 advancers against 39 decliners, gains in FirstHoldco, Mansard others outweigh losses in Fidson Health care, Daar Communications and others bringing year to date return higher to 53.69 per cent.

Analysis of the trading during the day showed that Omatek led gainers table with 9.60 per cent to close at N1.37 per unit, Cornerstone Insurance followed with a gain of 9.18 per cent to close at N5.35 per share, Mansard Insurance gained 9.09 per cent to close at N12.00 per unit, Abbey Building Society added 6.25 per cent to close at N8.50 per share, FirstHoldco gained 4.65 per cent to close at N135.00 per unit.

On the contrary, Fidson Healthcare topped losers’ chart, dropping by 9.98 per cent to close at N75.80 per share, LearnAfrica and International General Insurance trailed with a loss of 9.84 per cent each to close respectively at N8.70 and N2.84 per share respectively.

Daar Communication fell by 8.61 per cent to close at N1.38 per unit, Legend Internet dipped by 8.43 per cent to close at N3.80 per share.

Volume of trades declined by 233,395 million, representing 31.83 per cent as investors traded 499.955 million shares against 733.350 million reported the previous day, Value of transactions up by 1.82 per cent to settle at N35.147 billion.

Further analysis showed that Transactions in the shares of Zenith Bank led market activities with 69.481 million shares valued at N8.145 billion, Access Holdings followed with account of 44.401 million shares worth N1.258 billion, GTCO Plc traded 37.468 million shares cost N4.813 billion, Sterling Bank traded 32.714 million shares worth N248.545 million while Wapic Insurance traded 24.293 million shares cost N49.355 million.