Equities investors gain N159.6bn as market adds 1.25%

Gains of high capitalised stocks on the Nigerian Stock Exchange (NSE), further advanced the equities market by 1.25 per cent on Thursday as investors gain N159.56 billion.

Positive sentiments and gains of Mobil, BUA Cements and Unilever Nigeria contributed to the bullish trade as market capitalisation closed at N12.90 trillion having advanced by 1.25 per cent, just as the All Share Index closed at 24,758 basis points.

Market breadth also closed positive as 29 gainers were recorded against five losers, an improved performance when compared with the previous outlook.

Specifically, SUNU Assurance led the gainers’ chart having gained ten per cent to close 22 kobo per share. Redstar Express followed having gained 34 Kobo or 9.97 per cent to close at N3.75 Kobo per share. Mobil appreciated in value by 9.95 per cent to close at N194.50 Kobo per share, while BUA Cement shares advanced by 9.95 per cent to close at N35.60 Kobo.

ARBICO topped the losers’ chart having lost 23 Kobo or 9.91 per cent to close at N2.09 Kobo per share, followed by Oando, whose shares declined by 5.76 per cent to close at N2.62 Kobo. Flour Mills of Nigeria depreciated by 4.76 per cent to close at N20 per share, NPF Microfinance Bank lost 3.55 per cent to close at N1.90 Kobo, just as Union Diagnostics closed at 29 Kobo per share having lost 3.33 per cent.

The total volume and value of trades however decreased by 17.90 per cent and 29.74 per cent respectively as 350.77 million shares valued at N3.71 billion were exchanged in 5,239 deals. Zenith Bank was the most traded stock by volume and value, having exchanged 57.4 million shares worth N961.4 million.

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