Domestic equities’ market gain N331bn

The nation’s domestic equities market on Thursday closed trading session on the positive note, appreciating by N331 billion, as renewed buying interest in large- and mid-cap stocks lifted trading for the day.

Market capitalisation of listed equities appreciated by 0.35 per cent to N95.856 trillion from N95.525 trillion reported the previous day.

The benchmark NGX All Share Index also grew by 522.23 basis points to 150363.05 points from 149842.82 points traded on Wednesday.

The advance was driven by strong gains in First HoldCo, Nestle Nigeria Plc, Guinness Nigeria Plc, Access Holdings, Mecure Plc, Alex Plc and 29 other companies.

The market breath was positive with 35 advancers against 26 decliners, bringing the year-to-date return to 46.09 per cent.

An analysis of the trading during the day showed that Nestle Nigeria Plc led gainers table with 10 per cent to close at N1958.00 per unit, Guinness Nigeria Plc followed with a gain of 9.98 per cent to N289.70 per unit, Alex added 9.76 per cent to close at N11.25 per unit. Daar Communications gained 9.20 per cent to close at N0.95 per unit, Mecure gained 9.13 per cent to close at N55.00 per share.

On the contrary, Stanbic IBTC topped losers’ chart for the day, dropping by 9.33 per cent to close at N95.20 per unit, Lasaco Insurance trailed with a loss of 9.09 per cent to close at N2.50 per unit, AfricPrudential dipped by 8.82 per cent to close at N12.40 per share, AustinLaz dipped by 8.33 per cent to close at N2.20 per unit, Sterling Bank down by 6.12 per cent to N6.90 per unit.

Volume of transactions declined by 5.085 billion, representing 85.83 per cent as investors traded 839.774 million shares against 5.925 billion traded the previous day. Value of trades increased by 84.83 per cent to settle at N32.806 billion from N216.194 billion in 23211 deals.

Trading in the shares of FirstHoldco led market activities with 385.616 million shares valued at N15.544 billion, FCMB group followed with account of 76.003 million shares cost N805.331 million, Lasaco Insurance exchanged 43.571 million shares cost N111.812 million, Access Holdings company traded 29.596 million shares worth N616.825 million, Chams Plc exchanged 24.802 million shares valued at N75.409 million.