Stocks Market Gains N394bn

Extending its winning streak for the fourth consecutive session, the Nigerian stock market yesterday, maintained the positive momentum as the overall capitalization closed N394 billion stronger.

The All-Share Index (ASI) gained 720.53 points, representing a gain of 1.10 per cent to close at 65,988.81 points. Also, market capitalisation rose by N394 billion to close at N30. 933 trillion.

The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; Seplat Energy, MTN Nigeria Communications, Geregu Power, Nigerian Exchange Group and Skyway Aviation Handling Company.

As measured by market breadth, market sentiment was positive, as 32 stocks gained relative to 30 losers. FTN Cocoa processors and Ikeja Hotels emerged the highest price gainer of 10 per cent each to close at N2.42 and N2.97 respectively, while Seplat Energy followed with a gain of 9.99 per cent to close at N1,539.70, per share.

Skyway Aviation Handling Company increased by 9.83 per cent to close at N19.55, while Japaul Gold & Ventures added 9.78 per cent to close at N1.01, per share.  On the other side, Conoil and Learn Africa led others on the losers’ chart with 10 per cent each to close at N101.25 and N3.69 respectively, while John Holt followed with a decline of 9.96 per cent to close at N2.44, per share.

Multiverse Mining and Exploration lost 9.88 per cent to close at N3.01, while Thomas Wyatt Nigeria depreciated by 8.45 per cent to close at N1.30, per share. The total volume traded declined by 33.43 per cent to 553.518 million units, valued at N7.42 billion, and exchanged in 8,313 deals.