Stock Market Gains N212bn On Sustained Positive Sentiment

The equities market on Tuesday extended gains by N212bn following gains recorded by some blue-chip firms.

The key performance indices, Nigerian Stock Exchange All-Share Index and market capitalisation appreciated by 1.25 per cent while the market breadth closing positive with 39 gainers as against 11 losers.

Consequently, the ASI gained 404.05 basis points or 1.25 per cent to close at 32,647.10 as against 32,243.05 recorded the previous day while the market capitalisation of equities appreciated by N212bn to close at N17.06tn from N16.85tn as market sentiment remained on the green zone.

Meanwhile, a turnover of 578.78 million shares in 7,651 deals was recorded in yesterday’s trading.

Premium sub-sector was the most active (measured by turnover volume); with 238.31 million shares exchanged by investors in 2,820 deals.

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

Banking sub-sector was boosted by the activities in the shares of Fidelity Bank Plc and GTBank Plc followed with a turnover of 142.22 million shares in 1,429 deals.

The number of gainers at the close of trading session was 39 while decliners closed at 11.

Cadbury Nigeria Plc, GSK Plc and Neimeth Pharmaceuticals Plc topped the gainers’ table with 10 per cent each to close at N9.35, N6.60 and N6.60 per share respectively while Nascon Plc followed with 9.96 per cent to close at N15.45 per share and NNFM Plc with a gain of 9.92 per cent to close at N6.65 per share.

On the flip side, ABC Transport Plc led the losers’ chart with a drop of 8.82 per cent to close at 31 kobo per share.

PZ Cussons Plc followed with a loss of 5.38 per cent to close at N4.40 per share while Chams Plc dropped by 4.35 per cent to close at 22 kobo per share.