Investors gain N1.18trn as 34 stocks advance

By Taiye Olayemi

Nigeria’s equities market extended its positive run on Thursday, with investors’ wealth rising by N1.178 trillion amid sustained buying interest in large and mid-cap stocks.

The market capitalisation opened at N158.714 trillion and increased by N1.178 trillion, closing at N159.892 trillion.

The All-Share Index (ASI) rose by 0.62 per cent, gaining 1,523.59 points to close at 244,791.79.

The index had closed at 243,268.20 on Wednesday, while the market’s Year-To-Date (YTD) return stood at 58.29 per cent.

Market breadth closed positive, with 34 stocks recording price gains against 23 decliners.

Beta Glass, BUA Cement, UPDC Real Estate Investment Trust (UPDCREIT) and Consolidated Hallmark Holdings led the gainers’ chart.

The four stocks appreciated by 10 per cent each, closing at N511.50, N297, N17.60 and N7.37 per share, respectively.

Royal Exchange also gained 9.89 per cent to close at N1 per share.

Conversely, Transcorp Power led the losers’ chart, declining by 9.97 per cent to N197.70 per share.

Legend Internet followed with a 9.88 per cent decline, closing at N3.65, while Omatek Ventures fell 9.66 per cent to N1.31.

Livingtrust Mortgage Bank declined by 8.45 per cent to close at N2.60, while International Breweries shed 5.94 per cent to N10.30.

Trading activity strengthened during the session, with total volume rising to 1.11 billion shares valued at N46.02 billion.

The transactions were executed in 54,102 deals, reflecting increased activity compared with the previous session.

Fidelity Bank dominated trading by volume and value, with 524.33 million shares worth N10.30 billion changing hands.

The bank’s trades accounted for 47.17 per cent of total market volume and 22.39 per cent of the day’s traded value.

(NAN)