Bulls Stretch Winning Run As Equities Gain N97bn

The Nigerian equities market yesterday extended its positive momentum with the market capitalisation increased by N97 billion.

The All Share Index (ASI) gained by 152.28 points, representing a growth of 0.10 per cent to close at 145,476.15 points. Also, market capitalisation gained N97 billion to close at N 92.726 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; UACN, Lafarge Africa, Ecobank Transnational Incorporated (ETI), Nigerian Breweries and Guaranty Trust Holding Company (GTCO).

However, market sentiment was bearish as 28 declining stocks outnumbered 23 gainers. UACN recorded the highest price gain of 10 per cent to close at N88.00, per share. Morison followed with an increase of 9.94 per cent to close at N3.54, while ETI rose by 8.53 per cent to close at N36.90 per share.

Wapic Insurance rose by 8.47 per cent to close at N2.56, while AXA Mansard Insurance gained 7.75 per cent to close at N13.90, per share.

On the other hand, Ellah Lakes and Eunisell Interlinked led the losers’ chart by 10 per cent each to close at N13.14 and N72.90 respectively, while Transcorp Hotel followed with a decline of 9.95 per cent to close at N157.50, per share.

Omatek Ventures depreciated by 9.23 per cent to close at N1.18, while Guinea Insurance declined by 8.46 per cent to close at N1.19, per share.

The total volume traded declined by 14.15 per cent to 1.932 billion units, valued at N19.193 billion, and exchanged in 23,369 deals. Transactions in the shares of eTranzact International topped the activity chart with 1.584 billion shares valued at N6.371 billion. Fidelity Bank followed with 31.013 million shares worth N589.299 million, while GTCO traded 28.285 million shares valued at N2.489 billion.

Zenith Bank traded 27.102 million shares valued at N1.631 billion, while ETI sold 21.877 million shares worth N744.256 million.