Market rally: Equities investors gain N321.1bn

The domestic equities market on the Nigerian Stock Exchange (NSE) continued its bullish trend having gained N321.1 billion in three days, as it added N5.6 billion to its market capitalisation on Thursday.

Benchmark index appreciated marginally by 0.04 per cent. All Sare Index (ASI) increased by 10.66 basis points, representing to close at 24,426.20 basis points as against 26,415.54 points it started the day with. Similarly, the overall market capitalisation size advanced with closed at N13.770 trillion as against N13.764 recorded on Wednesday.

Positive Sentiments eroded the market as 22 gainers were recorded against 11 losers. Chams led the advancer’s chart having recorded the highest price gain of ten per cent, to close at 22 kobo per share, followed by Stanbic IBTC Holdings whose shares appreciated by 9.85 per cent or N3.20 kobo to close at N35.70 kobo per share.

Sky Aviation also gained 9.83 per cent to its share value to close at N2.57 kobo, while Cutix rose by 9.60 per cent to close N2.37 per share.

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UAC Properties also rose by 9.41 per cent to close at 93 kobo per share. EcoBank Transnational Incorporated (ETI) also advanced by 9.32 per cent to close at N6.45.

On the other hand, Glaxo SmithKline led the losers’ chart by 9.52 per cent having lost 79 40 kobo from each of its shares, while Jaiz Bank declined by 8.20 per cent to close at 86 kobo per share. NEM Insurance Plc followed with a decline of 7.49 per cent to close at N1.73 kobo, per share.

Eternal Oil went down by 7.34 per cent to close at N2.020 kobo per share, while Nestlé Nigeria shed 5.83 per cent to close at N1,017 kobo per share.

The total volume of trades increased to 431.9 million units, valued at N7.8 billion and exchanged in 4,518 deals. Transactions in the shares of Guaranty Trust Bank topped the activity chart with 75.8 million shares valued at N1.887 billion. Zenith Bank followed with 62.749 million shares worth N1.254 million, while Red Star Express traded 61.826 million shares worth N184.240 million.

United Bank for Africa traded 42.897 million shares valued at N302.942 million, while Unites Capital traded 33.180 million shares worth N104.629.

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