Investors Gain N159bn As 29 Stocks Lift Market

The local bourse on Thursday sustained its positive sentiment to four consecutive trading sessions as the market capitalisation gained N159bn.

The key market performance measures, the NSE All Share Index and market capitalisation, rose by 1.25 per cent as market sentiments extended gaining streaks following investors’ sustained optimism on undervalued stocks.

Consequently, the All-Share Index gained 306.16 basis points or 1.25 per cent to close at 24,758.39 as against 24.452.23 recorded the previous day while the market capitalisation of equities appreciated by N159bn or 1.25 per cent to close at N12.902tn from N12.743tn as market sentiment remained on the green zone.

Meanwhile, a turnover of 350.76 million shares exchanged in 6,239 deals was recorded in the day’s trading.

Premium subsector was the most active (measured by turnover volume), with 173.95 million shares exchanged by investors in 2,308 deals.

Volume in the subsector was largely driven by activities in the shares of FBNH Plc and Zenith Bank Plc.

Banking subsector boosted by activities in the shares of GTBank Plc and Fidelity Bank Plc followed with a turnover of 47.62 million shares in 708 deals.

The number of gainers at the close of trading session was 29 while decliners closed at only nine.

SUNU Assurance Plc led the gainers’ table with a gain of 10 per cent to close at 22 kobo per share while Red Star Express Plc followed with a gain of 9.97per cent to close at N3.75 per share. 11 Plc added 9.95 per cent to close at N194.50 per share.

On the other hand, ARBICO Plc led the price losers’ table, dropping 9.91 per cent each to close at N2.09 per share. Oando Plc followed with 5.76 per cent to close at N2.62 per share while Flour Mills Nigeria Plc trailed with a loss of 4.76 per cent to close at N20 per share.