Equity market remains bullish, gains N677bn

The nation’s domestic equity market Thursday sustained positive growth, appreciating by N677 billion as bulls dominated trading during the day.

Market capitalisation of listed equities increased by 0.92 per cent to N74.358 trillion from N73.681 trillion reported the previous day.

The NGX All Share Index also appreciated by 1074.26 points to 117861.13 points from 116786.87 points traded on Wednesday.

The market breath was positive with 43 gainers against 20 losers, as year to date return went up to 14.51 per cent.

Analysis of investments showed that Ikeja Hotel led gainers table with 10 per cent to close at N15.40 per unit, Betaglass followed with a gain of 9.98 per cent to close at N276.00, Legend Internet added 9.92 per cent to close at N7.20 per share, UPL gained 9.85 per cent to close at N6.02 per share, Eterna Plc gained 9.82 per cent to close at N42.50 per unit.

On the contrary, Guinea Insurance topped losers’ chart, dropping by 9.21 per cent to close at N0.69 per unit, HMCall trailed with a loss of 5.88 per cent to close at N4.00, C& I Leasing down by 5.84 per cent to close at N4.35 per unit, Mcnichols dipped by 5.58 per cent to close at N2.20 per unit, Fidson health sheds 4.65 per cent to close at N41.00.

Volume of transactions also increased by 253.88 basis points, representing 39.66 per cent as investors traded 893.965 million shares valued at N22.029 billion in 17257 deals.

Trading in the shares of Champion Breweries led market activities with 332.298 million shares worth N2.268 billion, GTCO followed with account of 62.661 million shares worth N5.002 billion. PZ Cusson exchanged 46.584 million shares cost N1.476 billion, Zenith Bank traded 37.552 million shares valued at N1.886 billion while Access Bank exchanged 35.985 million shares valued at N787.108 million.