Stock Market Advances With N104bn Gain

The equities market on Thursday extended gains by N104bn following gains recorded by some blue chip firms.

The key performance indices, NSE ASI and market capitalisation appreciated by 0.83 per cent with market breathe closing positive with 17 gainers as against 16 losers.

Consequently, the All-Share Index rose by 199.8 basis points or 0.83 per cent to close at 24.330.06 index points as against 24.130.26 recorded the previous day.

Market capitalization of equities appreciated by N104bn or 0.83 per cent to close higher at N12.69tn from N12.59tn as market sentiment remained on the green territory.

Meanwhile, a turnover of 207.40m shares in 3,323 deals was recorded in the day’s trading.

Banking sub-sector was the most active (measured by turnover volume); with 76.48m shares exchanged by investors in 663 deals.

Volume in the sub-sector was driven by activities in the shares of Sterling Bank Plc and Ecobank Plc.

Premium sub-sector boosted by the activities in the shares of FBNH Plc and UBA Plc followed with a turnover of 38.40m shares in 1,026 deals.

The number of gainers at the close of trading session was 17 while decliners closed at 16.

Further analysis of the day’s trading showed that Ikeja Hotel Plc topped the gainers’ table with 9.80 per cent to close at N1.12 per share .

Presco Oil Plc followed with 9.28 per cent to close at N49.45 per share and Cadbury Nigeria Plc with a gain of 7.41 per cent to close at N6.75 per share.

On the flip side, Nacho Plc led the losers’ chart with a drop of 9.17 per cent to close at N1.98 per share. Unity Bank Plc followed with a loss of 8.16 per cent to close at 45 kobo per share while ETI Plc dropped by 7.45 per cent to close at N4.35 per share.