High Demand For Stocks Boosts Stock Market To N164.9bn Gain

Investors in the Nigerian capital market went home with N164.9 billion following the 0.55 percent growth in equity capitalization on the eve of the country’s presidential election.

The high demand for stocks in the capital market pushed up the market capitalization from N29.76 trillion to N29.93 trillion after five hours of trading on Friday.

Similarly, the All-Share Index appreciated by 234.34 basis points to close at 54,949.21, up from 54,646.38 posted by the bourse on Thursday.

Investors traded 302.83 million shares worth N2.50 billion in 2,820 deals on Friday.

This surpassed the 142.03 million shares valued at N1.84 billion that exchanged hands in 2,651 deals the previous day.

TIP led the gainers’ list with a 10 percent rise in share price moving from N0.40kobo to N0.44kobo per share.

John Holt gained N0.16kobo to move from N1.60kobo to N1.76kobo per share.

McNichols’ share value was up by 10 percent to end trading at N0.66kobo from N0.60kobo per share.

Conoil gained N3.85kobo to close at N42.60kobo, above its opening price of N38.75kobo per share.

MRS’ shares traded upward by N2.75kobo to rise from N27.80kobo to N30.55kobo per share.

LivingTrust topped the losers’ table after shedding N0.30kobo to drop from N3 to N2.70kobo per share.

Cornerstone’s share price dropped by 7.69 percent to end trading at N0.60kobo from N0.65kobo per share.

Courtville lost 4.17 percent to end trading with N0.46kobo from N0.48kobo per share.

Regal Insurance’s share dropped from N0.29kobo to N0.28kobo per share after losing 3.45 percent during trading.

Japaul Gold lost 3.33 percent to drop from N0.30kobo to N0.29kobo per share.

FTCO led the day’s trading with 14.14 million shares valued at N358.24 million.

Transcorp traded 11.01 million shares worth N14.05 million.

Access Corp sold 10.92 million shares worth N100.11 million.

Fidelity Bank followed with 9.43 million shares valued at N47.58 million, while Zenith Bank traded 8.12 million shares valued at N206.65 million.