The Nigerian equities market yesterday closed on a positive note by N332 billion gain, extending its winning streak to six consecutive trading sessions.
The All-Share Index rose by 520.23 per cent, representing a gain of 0.35 per cent, to close at 150,363.05 points. Similarly, the overall market capitalisation value gained N332 billion to close at N95.857 trillion.
The market positive performance was driven by price appreciation in large and medium capitalised stocks which are; Nestle Nigeria, Guinness Nigeria, UACN, MeCure Industries and Vitafoam.
On market outlook, Imperial Asset Managers Limited said, “at the equity market session today, near-term sentiment remains cautiously optimistic, supported by strong YTD performance and sustained interest in fundamentally sound, liquid stocks. However, trading may remain selective and range-bound ahead of year-end portfolio rebalancing.”
Market breadth was positive, with 35 gainers surpassing 26 losers. Nestle Nigeria recorded the highest price gain of 10 per cent to close at N1,958.00, per share. Guinness Nigeria followed with a gain of 9.98 per cent to close at N289.70, while Aluminium Extrusion Industries rose by 9.20 per cent to close at N11.25, per share.
Daar Communications appreciated by 9.20 per cent to close at 95 kobo, while MeCure Industries rose by 9.13 per cent to close at N55.00, per share.
On the other hand, Stanbic IBTC Holdings led the losers’ chart by 9.33 per cent to close at N95.20, per share. Lasaco Assurance followed with a decline of 9.09 per cent to close at N2.50, while Africa Prudential declined by 8.82 per cent to close at N12.40, per share.
Austin Laz & Company shed 8.33 per cent to close at N2.20, while Sterling Financial Holdings Company lost 6.12 per cent to close at N6.90, per share.
However, the total volume of trade decreased by 85.83 per cent to 839.775 million units, valued at N32.807 billion, and exchanged in 23,211 deals. Transactions in the shares of First HoldCo topped the activity chart with 385.617 million shares valued at N15.545 billion. FCMB Group followed with 76.003 million shares worth N805.331 million, while Lasaco Assurance traded 43.571 million shares valued at N111.812 million.
Access Holdings traded 29.597 million shares valued at N616.826 million, while Chams Holding Company transacted 24.803 million shares worth N75.410 million.
