Local equities maintain positive trajectory, gains N308bn

The local equity market on Thursday sustained positive trajectory, gaining N308 billion as gains in the shares of Dangote, MTN impacted others lifted trading for the day.

Market capitalisation of listed equities increased by 0.33 per cent to N92.798 trillion from N92.490 trillion reported the previous day.

The NGX All Share Index also appreciated by 485.24 basis points to 146204.33 points from 145719.09 points traded on Wednesday.

The positive performance recorded during the day was driven by gains in the shares of Zenith, Wapco, MTN Nigeria, Sterling Bank, Dangote Cement and 27 other companies

The market breath was positive with 32 advancers against 21 decliners, bringing year to date return to 42.05 per cent

Volume of trades declined by 178.736 million, representing 33.99 per cent as investors traded 346.989 million shares against 525.725 million units traded the previous day, Value of transactions up by 12.94 per cent to settle at N27.425 billion against N24.287 billion in 24691 deals.

A review of trading during the day showed that Eunisell Plc and Caverton Business Solutions led gainers table with 10 per cent each to close at N44.00 and N6.93 per share respectively, SUNU Assurance followed with a gain of 9.90 per cent to close at N5.77 per share, IMG added 9.10 per cent to close at N35.95 per share, Mecure gained 8.81 per cent to close at N28.40 per unit.

On the contrary, FTNCocoa topped losers’ chart, declining by 6.67 per cent to close at N5.60 per unit, Tantalizer trailed with a drop of 3.35 per cent to close at N2.31 per share, Fidelity Bank down by 2.38 per cent to close at N20.50 per share, PZ declined by 2.18 per cent to close at N38.15 per unit, while VeritasKapital dipped by 1.90 per cent to close at N2.06 per share.

Trading in the shares of Fidelity Bank led market activities with 42.012 million shares valued at N861.535 million, Dangote Cement followed with account of 20.923 million shares cost N11.002 billion, Sterling Bank exchanged 19.822 million shares valued at N162.930 million, Jaiz Bank traded 19.487 million shares valued at N85.274 million while Chams Plc sold a total of 17.690 million shares worth N76.984 million.