Equities Market Extends Positive Trend, Up By N271bn

The Nigerian equities market yesterday closed in the green as price increases in TotalEnergies Marketing Nigeria Plc and 48 others lifted the overall capitalization by N271 billion.

The All-Share Index rose by 472.85 per cent, representing a gain of 0.49 per cent, to close at 96,510.13 points. Similarly, the overall market capitalisation value gained N271 billion to close at N55.437 trillion.
The market positive performance was driven by price appreciation in large and medium capitalised stocks which are; TotalEnergies Marketing Nigeria, Okomu Oil, Julius Berger, Oando and Eterna.

Also, the market breadth closed on a strong positive side, as 49 stocks gained relative to 14 losers. John Holt, Julius Berger, NEIMETH International Pharmaceuticals and TotalEnergies Marketing Nigeria recorded the highest price gain of 10 per cent each to close at N3.08, N143.00, N2.20 and N619.30 in that order, per share.

Oando, Okomu Oil, FBN Holdings and FBN Holdings followed with a gain of 9.98 per cent to close at N57.85, N417.70 and N22.60 respectively, while Eterna rose by 9.96 per cent to close at N25.40, per share.

On the other hand, University Press led the losers’ chart by 9.58 per cent to close at N2.17, per share. Cutix followed with a decline of 6.25 per cent to close at N3.00, while Vitafoam Nigeria declined by 5.17 per cent to close at N18.35, per share.

Transnational Corporation (Transcorp) shed 5.08 per cent to close at N11.20, while Linkage Assurance lost 5.00 per cent to close at 95 kobo, per share.

The total volume of trade increased by 13.48 per cent to 443.157 million units, valued at N5.635 billion, and exchanged in 8,493 deals. Transactions in the shares of Veritas Kapital Assurance topped the activity chart with 83.077 million shares valued at N122.402 million. Access Holdings followed with 55.966 million shares worth N1.064 billion, while Universal Insurance traded 29.073 million shares valued at N9.508 million.

FBN Holdings traded 23.646 million shares valued at N519.532 million, while FCMB Group transacted 20.917 million shares worth N158.903 million.