Equity market closes positive, gains N148bn
Transactions on the floor of Nigerian Exchange (NGX) on Thursday sustained upward trend, appreciating by N148 billion, buying interest in the shares of UBA, Zenith Bank, Fidelity Bank and others boosted market activities.
Market capitalization of listed equities increased by 0.25 per cent to N60.103 trillion from N59.955 trillion reported on Wednesday.
The NGX All Share Index also increased by 245.53 basis points to 99189.95 points from 98944.42 points traded the previous day.
The positive be trend sustained during the trading session was as result of gains recorded in the shares of AccessCorp, FBNHoldings, Fidelity Bank, Nahco, Stanbic IBTC, UBA, Zenith and 18 others.
As a result, year to date return went up to 32.65 per cent as the market recorded 25 gainers against 19 losers.
A review of trading activities showed that AcçessCorp led gainers table with 9.95 per cent to close at N22.10 per unit, Academy press followed with a gain of 9.79 per cent to close at N3.14 per share, UPDC gained 8.90 per cent to close at N1.59 per share, Cornerstone Insurance added 7.60 per cent to close at N2.69 per unit, Veritas Kapital increased by 5.96 per cent to close at N1.60 per share.
On the contrary, Royal Express topped losers chart, dropping by 9.72 per cent to close at N0.65 per unit, International Breweries trailed with loss of 6.24 per cent to close at N4.06 per share, Livestock dipped by 6.06 per cent to close at N3.10 per share, Wapic Insurance down by 5.94 per cent to close at N0.95 per unit while Champion Breweries dipped by 5.41 per cent to close at N3.50 per unit.
Volume of trades increased by 117.17 million, representing 41.30 per cent as investors traded 400.912 million shares valued at N15.715 billion in 9211 deals against 283.74 million shares cost N8.29 billion exchanged hands the previous day in 7966 deals.
Transactions in the shares of United Bank for Africa led market activities with 58.420 million shares valued at N1.682 billion, Japaul Gold followed with account of 35.147 million shares cost N85.195 million, Custodian Insurance traded 33.721 million shares worth N411.422 million, AccessCorp exchanged 30.396 million shares valued at N649.138 million Zenith Bank sold a total of 25.033 million shares valued at N1.002 billion.
