Nigerian Stocks Market Gains Further, up N85bn
NGX
The domestic equities market yesterday maintained the bull-run bringing the overall market capitalisation up by N85 billion on buying interest in United Capital Plc and 25 others.
The All-Share Index (ASI) gained 156.04 points, representing a gain of 0.22 per cent to close at 72,455.83 points. Also, market capitalisation rose by N85 billion to close at N39.649 trillion.
The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; United Capital, Access Holdings, Zenith Bank, United Bank for Africa (UBA) and Flour Mills of Nigeria.
As measured by market breadth, market sentiment was slightly negative, as 26 stocks gained relative to 27 losers. Infinity Trust Mortgage Bank emerged the highest price gainer of 9.83 per cent to close at N2.57, while John Holt followed with a gain of 9.73 per cent to close at N2.03, per share.
Ikeja Hotels rose by 9.20 per cent to close at N4.75, while DAAR Communications and eTranzact International appreciated by 7.69 per cent each to close at 42 kobo and N7.00 respectively, per share. On the other side, R.T. Briscoe Nigeria led others on the losers’ chart with 9.84 per cent to close at 55 kobo, per share.
UPDC Real Estate Investment Trust followed with a decline of 9.78 per cent to close at N4.15, while Mutual Benefits Assurance shed 9.43 per cent to close at 48 kobo, per share.
Omatek Ventures lost 7.79 per cent to close at 71 kobo, while Sovereign Trust Insurance depreciated by 7.69 per cent to close at 36 kobo, per share.
The total volume traded rose by 3.09 per cent to 446.583 million units, valued at N7.256 billion, and exchanged in 6,845 deals.
Transactions in the shares of Access Holdings led the activity with 77.255 million shares worth N1.756 billion. FCMB Group followed with account of 45.235 million shares valued at N318.609 million, while Zenith Bank traded 37.290 million shares valued at N1.380 billion.
UBA traded 29.301 million shares worth N724.064 million, while Fidelity Bank traded 27.512 million shares worth N257.281 million.
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