Local equity market sustains growth, gains N508bn
Nigeria’s equities market on Thursday closed higher, with gains by Nestle Nigeria Plc, Eterna, Wapco, Cadbury Nigeria Plc impacting positively on the Nigerian Exchange (NGX) benchmark index.
The NGX All Share Index appreciated by 790.59 basis points to 106074.26 points from 105283.67 points traded the previous day.
Also, Market capitalization of listed equities appreciated by N508 billion or 0.77 per cent to N66.667 trillion from N66.159 trillion reported on Wednesday.
The growth trend showed that year to date return improved by 3.06 per cent as 43 companies closed in green against 16 firms took negative direction.
The trading for the day showed that five companies recorded 10 per cent gain. Cadbury Nigeria Plc, Wapco and Eterna gained 10 per cent to close at N24.20, N79.20 and N36.30 per share respectively, Ikeja Hotel and Nestle also gained 10 per cent to close respectively at N11.00 and N1100 per unit.
Academy Press followed with a gain of 9.96 per cent to close at N2.82 per unit.
On the contrary, JohnHolt topped losers chart, dropping by 10 per cent to close at N6.30 per unit,HMCall trailed with a loss of 9.96 per cent to close at N4.70 per unit, Multiverse fell by 9.83 per cent to close at N7.80 per unit, Guinea Insurance dipped by 8.57 per cent to close at N0.64 per share while Japaul Gold declined by 6.19 per cent to close at N1.97 per share.
Volume of transactions declined by 416.545 million, representing 55.93 per cent as investors traded 328.257 million shares valued at N10.370 billion in 12142 deals against 744.802 million shares worth N18.284 billion exchanged hands the previous day in 11226 deals.
Trading in the shares of AccessCorp led market activities with 48.502 million shares valued at N1.162 billion, Fidelity Bank followed with account 40.384 million shares valued at N801.826 million, GTCO Plc exchanged 17.101 million shares cost N1.043 billion, Chams traded 13.740 million shares worth N30.052 million while Zenith Bank traded 12.301million shares cost.
