Equities market gains N46bn to maintain positive trend
Bullish sentiments persisted in the domestic equities market of the Nigerian Exchange Limited (NGX) on Thursday with a gain of N46 billion, as investors took positions in Eterna Plc and 28 others.
The All Share Index (ASI) rose by 85.15 points or 0.18 per cent to close at 48,223.86 points, while the overall market capitalisation value gained N46 billion to close at N25.998 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Berger Paints, PZ Cussons Nigeria, Skyway Aviation Handling Company, Eterna and Oando.
On market outlook, GTI Securities Limited said: “The equity market maintained its bullish trend with the Oil & Gas sector dominating activities. We expect this positive trend to persist in the coming trading days.”
As measured by market breadth, market sentiment was positive as 28 stocks gained relative to nine losers. Berger Paints and Eterna recorded the highest price gain of 10 per cent each to close at N7.70 and N6.05 respectively, while Oando followed with a gain of 9.90 per cent to close at N5.33, per share.
MEYER Plc rose by 9.84 per cent to close at N2.12, while Skyway Aviation Handling Company appreciated by 9.83 per cent to close at N6.37, per share.
On the other hand, SCOA Nigeria led the losers’ chart by 9.77 per cent to close at N1.94, per share. Associated Bus Company followed with a decline of 6.45 per cent to close at 29 kobo, while Neimeth International Pharmaceuticals depreciated by 3.55 per cent to close at N1.36, per share.
May & Baker Nigeria declined by 2.95 per cent to close at N4.27, while AIICO Insurance depreciated by 1.45 per cent to close at 68 kobo, per share.
Meanwhile, the total volume traded decreased by 30 per cent to 244.694 million units, valued at N3.151 billion, and exchanged in 4,859 deals.
Transactions in the shares of Custodian Investment topped the activity chart with 38.704 million shares valued at N255.452 million. Oando followed with 19.488 million shares worth N101.332 million, while Fidelity Bank traded 17.291 million shares valued at N66.861million.
Nigerian Breweries traded 15.264 million shares valued at N733.006 million, while Transnational Corporation of Nigeria (Transcorp) transacted 13.888 million shares worth N14.019 million.
