Equities Sustain Bullish Performance Up By N111bn

The Nigerian stock market extended its winning streak by N111 billion yesterday, driven by positive sentiment in Julius Berger Plc and 49 others.

The All-Share Index rose by 175.12 per cent, representing a gain of 0.12 per cent, to close at 146,055.89 points. Similarly, the overall market capitalisation value gained N111 billion to close at N92.405 trillion.

The market’s positive performance was driven by price appreciation in large and medium-capitalised stocks, including Julius Berger, Lafarge Africa, NEM Insurance, AXA Mansard Insurance, and Champion Breweries.

On market outlook, Afrinvest Limited stated, “We expect the bourse to maintain its positive performance driven by improved investor sentiment.”

Investor sentiment remained upbeat, with market breadth closing positive as 50 stocks advanced against 29 decliners.

8 Associated Bus Company, Champion Breweries, Ellah Lakes, Sunu Assurance, AXA Mansard Insurance, Prestige Assurance, Wapic Insurance, and The Initiates Plc (TIP) recorded the highest price gains of 10 per cent each to close at N4.95, N17.38, N16.06, N6.05, N17.71, N2.20, N4.07, and N14.52, respectively, per share.

Julius Berger followed with a gain of 9.99 per cent to close at N147.60, while Mutual Benefits Assurance rose by 9.97 per cent to close at N3.53 per share.

On the other hand, Juli led the losers’ chart by 10 per cent to close at N9.00 per share. Unilever Nigeria followed with a decline of 9.97 per cent to close at N71.30, while Custodian Investment dipped by 9.55 per cent to close at N37.90 per share.

Academy Press shed 7.78 per cent to close at N8.30, while May & Baker Nigeria lost 7.69 per cent to close at N18.00 per share.

The total volume fell by 39.6 per cent to 1.277 billion units, valued at N24.255 billion, and exchanged in 31,155 deals. Transactions in the shares of Lasaco Assurance topped the activity chart with 107.216 million shares valued at N439.210 million. Japaul Gold & Venture followed with 106.900 million shares worth N302.655 million, while Sterling Financial Holdings Company traded 97.834 million shares valued at N784.452 million.

AIICO Insurance traded 64.992 million shares valued at N273.370 million, while Access Holdings transacted 61.090 million shares worth N1.685 billion.