The Nigerian equities market closed trading activities yesterday, which signalled the end of the third quarter, on a bullish note, recording N328 billion gain.
This extended the positive sentiment to two consecutive trading days, ahead of the Independence holiday today.
Yesterday’s market positive performance can be attributed to investors’ increased buying interest in the industrial sector.
The All Share Index (ASI) increased by 628.88 absolute points, representing a growth of 1.59 per cent to close at 40,221.17 points. Similarly, the market capitalisation gained N328 billion to close at N20.956 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks amongst which are; Dangote Cement, Presco, Okomu Oil, Nigerian Breweries and May and Baker Nigeria.
Furthermore, the market breadth closed positive, recording 20 gainers as against 14 losers. University Press recorded the highest price gain of 9.82 per cent to close at N913.20, per share. Pharma Deko followed with a gain of 9.81 per cent to close at N2.35 while May and Baker Nigeria appreciated by 9.17 per cent to close at N4.88 per share.
Sovereign Trust Insurance went up by 9.09 per cent to close at 24 kobo while Consolidated Hallmark Insurance appreciated by 7.55 per cent to close at 57 kobo per share.
On the other hand, Chams led the losers’ chart by 8.70 per cent to close at 21 kobo per share. AXA Mansard Insurance followed with a decline of 4.12 per cent to close at N2.33 while Jaiz Bank shed 3.23 per cent to close at 60 kobo, per share.
Livestock Feeds shed 2.69 per cent to close at N2.17, while Japaul Gold and Ventures and Unilever Nigeria depreciated by 2.22 per cent each, to close at 44 kobo and N13.20 respectively, per share.
The total volume traded increased by 120.89 per cent to 1.047 billion shares, worth N7.421 billion, and traded in 3,752 deals.
Transactions in the shares of Transcorp Hotels topped the activity chart with 763.899 million shares valued at N2.872 billion. FBN Holdings (FBN) followed with 53.764 million shares worth N430.464 million while Transnational Corporation of Nigeria (Transcorp) traded 23.311 million shares valued at N22.195 million.
Guaranty Trust Holding Company traded 19.418 million shares valued at N544.349 million while Wapic Insurance transacted 18.271 million shares worth N8.772 million.