Investors Gain N26bn As Market Sustains Growth

The local bourse on Thursday sustained positive sentiment to fifth consecutive trading session as the market capitalisation gained N26bn.

The key market performance measures, the NSE All Share Index and market capitalisation rose by 0.20 per cent as market sentiments extended gaining streaks following investors’ sustained optimism on undervalued stocks.

The market breadth closed positive as gainers at the close of trading session was 19 while decliners closed at six.

Consequently, the All-Share Index rose by 51.02 basis points or 0.20 per cent to close at 25,511.02 index points as against 25,460 recorded the previous day while market capitalisation of equities appreciated by N26bn or 0.20 per cent to close higher at N13.308tn from N13.28tn as market sentiment remained on the green territory.

Meanwhile, a turnover of 232.42 million shares in 3,377 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); with 66.52m shares exchanged by investors in 1,233 deals.

The volume in the sub-sector was driven by activities in the shares of Zenith Bank Plc and Access Bank Plc.

The insurance sub-sector boosted by the activities in the shares of Lasaco Assurance Plc and AIICO Insurance Plc followed with a turnover of 32.77 million shares in 140 deals.

The number of gainers at the close of trading session was 19 while decliners closed at six.

Further analysis of the day’s trading showed that UAC-Property Plc led the gainers’ table with 8.33 per cent to close at 91 kobo per share while Linkage Assurance Plc followed with 7.69 per cent to close at 42 kobo per share and Royal Exchange Plc with a gain of 6.45 per cent to close at 33 kobo per share.