Equity market extends gain by N480.8bn in one day

At the close of trading activities on Thursday, the equities market of the Nigerian Exchange Limited (NGX) gained N21.67billion.

Specifically, the market capitalisation yesterday gained N21.67billion to close at N20.575trillion as against N20.553 trillion it opened for trading.

The stock prices appreciation in the likes of GTCO Plc, Dangote cement plc, among others impacted on the NGX capitalisation market.

The equities market had on Wednesday appreciated by N317.5billion and it also gained N141.6 billion on Tuesday.

However, the N21.67 billion gained in stock market of yesterday’s was buoyed by investors’ buy-sentiment in GTCO, Zenith Bank Plc and Dangote cement.

Consequently, the NGX All Share Index (ASI) in three days rose by 2.39 per cent but gained 0.11 per cent yesterday to close at 39,490.06 basis points from 39,448.46 basis points.

The stock market upturn brings its performance in Month-to-Date increased to 2.5per cent, while Year-to-Date loss moderated to -1.9per cent.

On sectors, the Insurance (-1.8 per cent), Banking (-0.2 per cent) and Oil & Gas (-0.2 per cent) indices recorded declines, the Industrial Goods (+0.4 per cent) index gained, while the Consumer goods index closed flat.

As measured by market breadth, market sentiment was positive, as eight stocks gained, relative to 24 losers.

Honey well Flour Mills plc recorded the highest price gain of 10per cent, to close at N1.87 per share.

Wema bank plc followed with a gain 3.95 per cent to close at N0.79, while Flour Mills gained 3.96 per cent to close at N2.29, per share.

AIICO Insurance appreciated by 2.11 per cent to close at N0.97, while GTCO appreciated by 1.07 per cent to close at N28.40 kobo, per share.

Tripple G top the losers table to close at 0.88 after shedding 9.28

Regal Insurance was also down by 8.51 per cent to close at 0.43 kobo, while Prestige Assurance lost 8.33per cent to close at 0.44, per share.

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