Equity market gains N178bn

The domestic equity market on Thursday took positive direction, appreciating by N178 billion as bulls’ dominance sustained during the day.

Market capitalisation of listed equities appreciated by 0.32 per cent to N55.753 trillion from N55.575 trillion reported the previous day.

The NGX All Share Index also appreciated 310.13 basis points to 97025.17 points from 96715.04 points traded on Wednesday.

The growth recorded during the day was driven by gains in the shares of FBNHoldings, Oando Plc, AccessCorp, Flour Mills Nigeria Plc, GTCO, Nestle Nigeria Plc, Berger Paint, RTBriscoe and 19 other companies.

As result year to date return rose to 29.76 per cent as NGX printed 27 gainers against 22 decliners.

An analysis of the transactions during the day showed that FBNHoldings and Caverton Business Solutions led gainers table with 10 per cent each to close at N26.40 and N2.31 per share respectively. Flour Mills Nigeria Plc followed with a gain of 9.99 per cent to close at N49.55 per share, RTBriscoe gained 9.93 per cent to close at N3.32 per unit, Nestle Nigeria Plc added 9.88 per cent to close at N890.00.

On the contrary, Daar Communications topped losers’ chart, dropping by 8.86 per cent to close at N0.72 per share, Eterna Plc trailed with a loss of 8.14 per cent to close at N32.15 per unit, Universal insurance fell by 7.69 per cent to close at N0.36 per unit, Sovereign Trust Insurance dipped by 5.95 per cent to close at N0.65 per unit, International Breweries dropped by 5.32 per cent to close at N4.45 per share.

Volume of share declined by 209.497 million, representing 34.91 per cent as investors traded 390.546 million shares valued at N7.974 billion in 9615 deals against 600.043 million shares cost N8.803 billion exchange hands the previous day in 9546 deals.

Trading in the shares of AccessCorp led market activities with 80.049 million shares valued at N1.475 billion, FBNHoldings followed with account of 51.982 million shares valued at N1.341 billion, United Bank for Africa traded 31.107 million shares cost N745.582 million, Caverton Business Solutions exchanged 23.727 million shares worth N54.397 million, Zenith Bank traded 19.274 million shares cost N712.449 million.