Stock Market Lifted By N309bn In Single Day Trading

The Nigerian stock market closed on a positive note yesterday, with a gain of N309 billion, fueled by renewed investor appetite.

The All Share Index (ASI) gained 489.45 points, representing a growth of 0.35 per cent, to close at 142,036.23 points. Also, market capitalisation rose by N309 billion to close at N89.865 trillion.

Gains recorded in medium—and large-capitalised stocks impacted the upturn, including Aradel Holdings, Guinness Nigeria, Dangote Cement, First Holdco, and Chellarams.

Market sentiment was subdued, reflected by a negative breadth, with 26 stocks advancing against 32 decliners. Chellarams recorded the highest price gain, 9.77 per cent, to close at N14.60 per share. Austin Laz & Company followed with a gain of 9.67 per cent to close at N2.95, while The Initiates Plc (TIP) was up by 8.08 per cent to close at N12.97 per share.

Sovereign Trust Insurance grew by 7.37 per cent to close at N3.06, while Aradel Holdings rose by 6.97 per cent to close at N583.00 per share.

On the other hand, Guinea Insurance led the losers’ chart by 9.70 per cent to close at N1.49, per share. Cornerstone Insurance followed with a decline of 8.68 per cent to close at N6.52, while Legend Internet declined by 7.27 per cent to close at N5.10, per share.

Deap Capital Management & Trust depreciated by 7.06 per cent to close at N1.58, while Thomas Wyatt Nigeria declined by 6.49 per cent to close at N2.45 per share.

Also, the total volume advanced by 142.09 per cent to 1.005 billion units, valued at N24.655 billion, and exchanged in 23,281 deals. Transactions in the shares of Abbey Mortgage Bank topped the activity chart with 401.065 million shares valued at N2.727 billion.

Fidelity Bank followed with 254.810 million shares worth N5.274 billion, while United Bank for Africa (UBA) traded 23.221 million shares valued at N1.095 billion.

First Holdco traded 22.529 million shares valued at N699.630 million, while Access Holdings sold 17.476 million shares worth N473.992 million.