Equities market extends Christmas rally, up by 0.41%

Opening the holiday shortened week, the Nigerian equities market  extended its nine-day winning streak as the capitalisation gained N124 billion.

The All Share Index (ASI) rose by 228.51 points, representing an increase of 0.46 per cent to close at 49,934.60 points, while the overall market capitalisation value gained N124 billion to close at N27.198 trillion.

Market sentiment, as measured by market breadth was positive as 27 stocks gained, relative to six decliners.

Champion Breweries and Cornerstone Insurance recorded the highest price gain of 10 per cent each to close at N5.17 and 55 kobo, while Geregu Power followed with a gain of 9.96 per cent to close at N127.00 per share.

Wema Bank went up by 9.94 per cent to close at N3.54, while Thomas Wyatt Nigeria appreciated by 9.88 per cent to close at 89 kob0 per share.

On the other hand, R.T. Briscoe Nigeria led the losers’ chart by 7.41 per cent to close at 25 kobo per share. McNichols followed with a decline of 3.70 per cent to close at 52 kobo, while FTN Cocoa processors depreciated by 3.45 per cent to close at 28 kobo per share.

Wapic Insurance declined by 2.44 per cent to close at 40 kobo, while Sterling Bank depreciated by 1.42 per cent to close at N1.39 per share.

The total volume of trades increased by 255.30 per cent to 498.728 million units, valued at N3.885 billion, and exchanged in 3,989 deals.

Transactions in the shares of Veritas Kapital Assurance topped the activity chart with 348.545 million shares valued at N69.709 million. Access Holdings followed with 28.933 million shares worth N248.248 million, while GTCO traded 25.745 million shares valued at N587.592 million.

Geregu Power traded 8.684 million shares valued at N1.025 billion, while AIICO Insurance transacted 8.289 million shares worth N4.618 million.