Equity Market Extends Positives With N259bn

Nigerian equity market on Tuesday sustained its positive outlook as the overall performance measures, NSE ASI and market capitalisation, rose further by 1.20 per cent.

However, the market breath closed negative with 32 gainers against 19 decliners.

Consequently, the All-Share Index gained 495.98 basis points or 1.20 per cent to close at 41,584.94 index points as against 41,088.96 recorded the previous day while the market capitalisation of equities appreciated by N259bn to close at N21.75tn from N21.49tn as market sentiment remained on the green zone.

Meanwhile, a turnover of 468.04m shares exchanged in 5,995 deals was recorded in the day’s trading.

The insurance sub-sector was the most active (measured by turnover volume); with 148.69m shares exchanged by investors in 662 deals.

Volume in the sub-sector was largely driven by activities in the shares of AXA-Mansard Assurance Plc and Sovereign Trust Insurance Plc.

The premium sub-sector boosted by activities in the shares of UBA Plc and Access Bank Plc followed with a turnover of 93.92 million shares in 1,696 deals. R.T Briscoe Plc led the gainers’ table with a gain of 10 per cent to close at 22 kobo. Champion Breweries Plc followed with a gain of 9.81 per cent to close at N2.35 per share. Universal Insurance Plc added 9.52 per cent to close at 23 kobo per share.

On the other hand, John Holt Nigeria Plc led the price losers’ table, dropping 10 per cent to close at 45 kobo per share.

Japaul Gold Plc followed with 9.30 per cent to close at 78 kobo per share while Seplat Petroleum Plc trailed with a loss of 9.26 per cent to close at N490 per share.