Nigerian equity market sustains gain, up 1.06%

The Nigerian equity market continued its uptrend on Thursday, appreciating by 1.06 per cent, due to bargain hunting.

Specifically, the market capitalisation inched higher by N302 billion or 1.06 per cent to close at N28.654 trillion against N28.352 trillion on Wednesday.

Also, the All-Share Index rose by 559.91 points or 1.06 per cent to close at 53,151.32 compared with 52,591.41 achieved on Wednesday.

Market activities showed that 27 stocks appreciated while 11 declined.

A breakdown of the price movement chart shows that Industrial and Medical Gases Nigeria PLC (IMG) recorded the highest gain to lead the gainers’ chart with one Kobo to close at N11 per share.

Champion Breweries trailed with 34k to close at N3.76, while Linkage Assurance rose by five kobo to close at 60k per share.

Livestock Feeds gained 10k to close at N1.46, while WAPCO rose by N1.65 to close at N28.15 per share.

On the other hand, NPF Microfinance Bank led the losers’ chart, dropping by 20k to close at N1.82 per share.

UACN lost N1.25 to close at N11.65, while Academy Press dipped 14k to close at N1.32 per share.

Learn Africa dropped 20k to close at N2.05, while Royal Exchange dipped 6k to close at N1.08 per share.

In all, a total of 226.18 million shares valued at N5.12 billion were exchanged by investors in 5,501 deals.

This represented a decrease of 30.40 per cent in contrast with a turnover of 382.46 million shares worth N4.23 billion traded in 5,922 deals on Wednesday.

Transcorp was the toast of investors, accounting for 47.65 million shares valued at N60.11 million

AccessCorp came second with 25.32 million shares worth N248.30 million, while Guaranty Trust Holding Company (GTCo) sold 20.65 million shares valued at N481.11 million.

Jaiz Bank accounted for 16.39 million shares worth N13.19 million, while Universal Insurance transacted 16.33 million shares valued at N3.27 million.

(NAN)