Equities market sustains growth, gains N479bn

Agency Report

The bulls remained firmly in control at the Nigerian Exchange (NGX) on Thursday as the equities market gained N479 billion, buoyed by strong investors sentiment.

Market capitalisation of listed equities increased by 0.51 per cent to N92.730 billion from N92.251 trillion reported the previous day.

The NGX All Share Index also appreciated by 755.49 basis points to 146569.35 pints from 145813.86 points recorded the previous day.

The volume of trades declined by 715 billion representing 26.50 per cent reaching 1.983 billion units against 2.698 Units traded the previous day while the value of shares traded dropped by 16.45 per cent to N27.261 billion in 35291 deals.

The positive performance was supported in gains in 44 companies, pushing the year to date return higher to 42.40 per cent 

The NGX trading result showed that AIICO Insurance, UPL, Cornerstone Insurance led gainers table with 10 per cent each to close at N3.19, N5.61 and N5.83 per share respectively. Mansard Insurance and LotusShal15 also added 10 per cent each to close respectively at N13.31 per unit and N59.40 per share.

On the contrary, Chams Plc topped losers’ chart with 9.94 per cent to close at 2.90 per unit, AustinLaz trailed with a loss of 9.83 per cent to close at N2.11 per unit, Caverton Business Solutions dipped by 9.65 per cent to close at N6.37 per unit, UACN declined by 9.44 per cent to close at N81.50 per share, JohnHolt depreciated by 9.43 per cent to close at N7.20 per unit.

Transactions in the shares of Linkage Assurance led market activities with 372.401 million shares valued at N703.097 million, Prestige insurance followed with account of 249.326 million shares valued at N357.453 million, Veritas Kapital exchanged 181.866 million shares valued at N362.998 million, Sterling Bank traded 121.018 million shares cost N968.266 million, Lasaco Insurance exchanged 58.721 million shares cost N217.540 million.