Equities market: 19 gainers halt 5-day loss with N24bn

After five days of consistent lose, gains from 19 companies listed on the Nigerian Stock Exchange (NSE) lift the market to a positive close at 0.17 per cent on Thursday.

Equities investors on the local bourse garnered N24 billion as the  All Share Index (ASI) closed at 27,568.91 basis points, while market capitalisation settled at N14.362 trillion.

The bulls also dominate the market breadth closing with 19 gainers against 10 losers with AIICO Also Insurance leading the gainers’ chart while Law Union topped the losers’ chart on Thursday.

Records indicated that AIICO took the lead with a ten per cent increase in its share value, complementing previous day gain with N0.09 kobo to close at 99 kobo per share. Ikeja Hotels also gained ten per cent to close at N1.21kobo per share having added 11 kobo.

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United Capital followed closely having appreciated by 9.94 per cent after adding 32 kobo to its shares, to close at N3.54kobo. WAPIC Insurance also gained N0.03 kobo to close at 34 kobo per shares, while ABC Transport took the fifth position on the Gainer’s chart after appreciating in stock values by 9.38 per cent to close at 35 kobo per share.

Conversely, leading the loser’s chart with ten per cent, Law Union closed at 81 kobo per share as against the opening price of 90 kobo. SFS REIT followed closely with ten per cent loss to close at N76.95 kobo per share, while Champion Breweries lost 9.28 per cent or N0.09 kobo from its share value to close at 88 kobo.

Jaiz Bank also shed N0.05 kobo or 7.35 per cent to close at 63 kobo per share, just as Oando closed at N3.26 kobo after losing 23 kobo from each of its shares.

However, the volume of trades increased from previous day session of 290 million units, as 485 million shares valued N3.6 billion was traded in 4,187 deals on Thursday.

Sovereign Insurance led the activity chart having traded 200 million shares, followed Guaranty Trust Bank, Zenith Bank, United Bank for Africa and First Bank of Nigeria Holdings.