Equity Market Gains N26bn On Blue-chip Firms

The Nigerian equity market on Thursday remained on the uptrend following gains recorded by some blue-chip firms.

The market breadth equally closed positive, recording 20 gainers against 10 losers as both market performance indices grew by 0.20 per cent.

Consequently, the All-Share Index rose by 48.3 basis points or 0.20 per cent to close at 24,930.34 index points as against 24,882.04 recorded the previous day. Market capitalisation of equities appreciated by N26bn or 0.20 per cent to close higher at N13.01tn from N12.98tn as market sentiment remained on the green territory.

Meanwhile, a turnover of 173.75 million shares in 3,646 deals was recorded in the day’s trading.

Premium sub-sector was the most active (measured by turnover volume); with 58.19 million shares exchanged by investors in 1,115 deals.

The volume in the sub-sector was driven by activities in the shares of Lafarge Africa Plc and FBNH Plc.

Banking sub-sector boosted by the activities in the shares of GTB Plc and Sterling Bank Plc followed with a turnover of 30.65 million shares in 558 deals.

Further analysis of the day’s trading showed that Seplat Petroleum Plc led the gainers’ table with 9.03 per cent to close at N3.50 per share.