Local equities gain N192bn

Agency Report

The local equities market on Thursday sustained bullish trend, appreciating by N192 billion as gains in the shares of small, mid-caps and some capitalised stocks lifted trading activities for the day.

Market capitalization of listed equities appreciated by 0.12 per cent to N158.278 trillion from N158.086 trillion reported the previous day.

The NGX All Share Index also increased by 297.10 basis points to 245209.34 points from 244912.24 points reported the previous day.

Although the market breath was negative with 22 advancers against 35 decliners, gains in the shares of FirstHoldco, TIP, Zenith Bank, Ava Capital, PZ Cusson, Eterna Plc and 16 others companies impacted positively on the market performance, bringing year to date return to 57.58 per cent.

Trading for the day showed that Eterna Plc led gainers table with 10 per cent to close at N36.30 per unit, Ava Capital followed with a gain of 9.63 per cent to close at N11.95 per unit, Legend Internet rose by 9.52 per cent to close at N4.61 per share, FCMB group gained 8.55 per cent to close at N12.70 per unit, Honey Well Flour added 7.98 per cent to close at N17.60 per share while TransExpress up by 7.06 per cent to close at N2.73 per share.

On the contrary, FTG Insurance topped losers’ chart, dropping by 10 per cent to close at N2.52 per unit, Ecobank Transnational Incorporated trailed with a loss of 9.99 per cent to close at N72.10 per unit, Chellaram down by 9.85 per cent to close at N3.21 per unit, Thomas Wyatt declined by 9.83 per cent to close at N3.21 per share, Wapic Insurance dipped by 9.64 per cent to close at N3.21 per unit.

An analysis of the investment showed that Volume of trades declined by 292.29 million, representing 35.47 per cent as investors traded 531.790 million shares against 824.06 million shares traded the previous day. Value of transactions also went down by 19.67 per cent to settle at N20.460 billion in 44826 deals.

Transactions in the shares of FCMB group led market activities with 118.518 million shares valued at N1.424 billion, FirstHoldco followed with account of 43.197 million shares valued at N5.952 billion, Ava Capital traded 36.320 million shares worth N432.033 million, Chams Plc exchanged 36.261 million shares cost N149.747 million while Access Holdings Company sold a total of 24.435 million shares valued at N638.764 million.