Nigeria’s stock market remains bullish, gains N369bn
Transactions on the floor of Nigerian Exchange NGX on Thursday took upward trend, appreciating by N369 billion as gains in Nestle, GTCO, Aradel lifted trading activities.
Market capitalization of listed equities increased by 0.28 per cent to N130.773 trillion from N130.404 trillion reported the previous day.
The NGX All Share Index also appreciated by 576.27 basis points to 203161.81 points from 202585.54 points.
The market rally was driven by gains in the shares of Zenith Bank, United Bank for Africa, Wapco Nigerian Plc, NGX group, Aradel, Nestle Nigeria Plc, GTCO Plc and others.
The trading for the day was mixed with 30 advancers against 30 decliners, bringing year to date return to 30.56 per cent.
A review of the investment during the day showed that Trans Express led gainers table, appreciating by 9.94 per cent to N3.43 per unit, International General Insurance followed with a gain of 9.84 per cent to close at N3.46 per share, UPDCREIT added 9.63 per cent to close at N7.40 per share, Guinea Insurance gained 9.52 per cent to close at N1.15 per unit, Regal insurance increased by 9.18 per cent to close at N1.07 per share.
On the contrary, Living Trust Insurance topped losers chart, declining by 10 per cent to close at N4.32 per unit, RTBriscoe trailed with a loss of 9.94 per cent to close at N8.88 per share, Tantalizer fell by 9.55 per cent to close at N3.39 per share, Livestock Feeds down by 9.40 per cent to close at N6.75 per share, VFD group declined by 8.85 per cent to close at N10.30 per unit.
Volume of trades declined by 353.37million, representing 35.10 per cent as investors traded 652.863 million shares against 1.006 billion recorded the previous day. The values of trades dip by 1.83 per cent to settle at N39.820 billion in 51101 deals.
Trading in the shares of Access Holdings Company led market activities with 121.701 million shares valued at N3.165 billion, GTCO Plc trailed with account of 62.274 million shares worth N8.095 billion, Chams Plc traded 60.723 million shares valued at N187.417 million, Zenith Bank exchanged 43.709 million shares cost N4.878 billion while United Bank for Africa sold a total of 29.030 million shares worth N1.330 billion.
