Stock Market Appreciates By N480.8bn In 3 Days
The Nigerian equities market sustained its positive trend yesterday amid price appreciation in large-mid capitalised stocks extending gains to three days
The stock prices appreciation in the likes of GTCO Plc, Dangote Cement Plc, among others impacted on the Nigerian Exchange Limited (NGX) market capitalisation, gaining N480.8 billion in three days.
At the close of business, the market capitalisation went up by N21.67billion to close at N20.575trillion as against N20.553 trillion it opened for trading.
THISDAY had report that the stock market on Wednesday appreciated by N317.5billion and it also gained N141.6 billion on Tuesday.
The N21.67 billion gained in yesterday’s trading was buoyed by investors’ buy-sentiment in GTCO, Zenith Bank Plc and Dangote cement.
Consequently, the NGX All Share Index (ASI) gained 0.11 per cent yesterday to close at 39,490.06 basis points from 39,448.46 basis points the previous day.
The stock market upturn brings its performance in Month-to-Date increased to 2.5 per cent, while Year-to-Date loss moderated to -1.9per cent.
On sectors, the Insurance (-1.8 per cent), Banking (-0.2 per cent) and Oil & Gas (-0.2 per cent) indices recorded declines, the Industrial Goods (+0.4 per cent) index gained, while the Consumer goods index closed flat.
As measured by market breadth, market sentiment was positive, as eight stocks gained, relative to 24 losers. Honey well Flour Mills plc recorded the highest price gain of 10per cent, to close at N1.87 per share. Wema bank plc followed with a gain 3.95 per cent to close at N0.79, while Flour Mills gained 3.96 per cent to close at N2.29, per share.
AIICO Insurance appreciated by 2.11 per cent to close at N0.97, while GTCO appreciated by 1.07 per cent to close at N28.40 kobo, per share.
Tripple G top the losers table to close at 0.88 after shedding 9.28
Regal Insurance was also down by 8.51 per cent to close at 0.43 kobo, while Prestige Assurance lost 8.33per cent to close at 0.44, per share.
Japaul gold shed 7.48 per cent to close at 0.47 kobo, while NEM Insurance depreciated by 6.34 per cent to close at 1.92 kobo, respectively.
The market turnover closes positive as volume moved up by 214.30per cent as against 61.77per cent downtick recorded in the previous session.
Honey flour mills was the most actively traded stock with about 384million units of shares worth about N654million.