Domestic equities market gains N96bn

Trading activities on the floor of Nigerian Exchange closed higher, appreciating by N96 billion as the market closed in bullish run.

Market capitalization of listed equities appreciated by 0.16 per cent to N59.031 trillion from N58.935 trillion reported the previous day.

The NGX All Share Index also increased 158.08 basis points to 97418.83 points from 97260.75 points recorded the previous day.

The positive performance recorded during the day was driven primarily by gains recorded in the shares of AccessCorp, Cadbury Nigeria Plc, Dangote Sugar, GTCO Plc, Zenith Bank, UBA and among others.

As a result year to date return increased to 30.36 per cent as 30 companies took positive direction against 19 firms that closed in red.

An analysis of the trading during the day showed that International General Insurance led gainers table, increasing by 10 per cent to close at N1.32 per unit, JohnHolt followed with gain of 9.98 per cent to close at N6.39 per unit, Eunisell gained 9.88 per cent to close at N10.90 per share, Thomas Way increased by 9.71 per cent to close at N1.92 per unit, UPL added 9.09 per cent to close at N3.60 per unit.

On the contrary, Legal Insurance topped losers’ chart, dropping by 10 per cent to close at N0.45 per unit, Daar Communications trailed with a loss of 7.46 per cent to close at N0.62 per unit, Sovereign Trust Insurance fell by 6.35 per cent to close at N0.59 per unit, Universal insurance and NEM Insurance down by 5.88 per cent each to close at N0.32 and N8.00 per share respectively.

Volume of trades declined by 103.365 million, representing 29.5 per cent as investors traded 247.014 million shares valued at N7.510 billion in 8305 deals against 350.379 million shares cost N9.262 billion exchanged hands the previous day in 10224 deals.

Transactions in the shares of AccessCorp led market activities with 40.000 million shares valued at N979.586 million, United Bank for Africa followed with account of 23.738 million shares cost N761.207 million, Fidelity Bank traded 21.286 million shares valued at N312.650 million, United Capital traded 16.294 million shares worth N264.428 million. GTCO Plc exchanged 14.728 million shares cost N794.445 million.