Stock: Equity Market Rallies N109bn Rally

The Nigerian Stock Exchange (NSE) Thursday sustained the bullish trend as trading rallied to a N109 billion gain

READ ALSO: Liquidity rises, external reserves grow but naira falls

The All-Share Index and Market Capitalization rose by 0.53 percent to close at 39,293.14 basis point and N20. 558 trillion, up from 39,085.78 basis point and N20. 449 trillion respectively.

The ASI and market capitalisation appreciated by 207.36 index point and N109 billion respectively.

The market turnover decreased by 36.6 percent, as investors bought and sold 229.417 million shares worth N3.780 billion in 4,016 deals as against the 361.903 million shares valued at N5.701 billion in 4,018 deals that exchanged hands on Wednesday.

The market breadth was positive with 23 stocks appreciating, while 12 declined.

The top gainers was led in percentage parameters by Coronation Insurance Plc, rising by 10 percent to close transaction at N0. 55 Kobo per share.

UPDC Real Estate Investment Plc appreciated by 9.80 percent to close at N5. 6 Kobo per share, while Pharma – Deko Plc climbed by 9.63 percent to close at N1. 48 Kobo per share.

Neimeth Pharmaceutical and GlaxoSmithKline surged by 9.55 and 9.45 per cent to close at N1. 95 Kobo and N6.95 per share respectively.

Conversely, Sovereign Trust Insurance led the losers’ chart, losing 8.33 percent to close at N0. 22 Kobo per share.

PF Micro Finance Bank shed 7.22 percent to close at N1.8 Kobo per share, while Prestige Assurance Plc declined by 6.82 percent to close at N0. 41 Kobo per share.

Japaul Gold and Dangote Sugar Refinery Plc fell by 4.44 and 2.67 percent to close at N0. 43 Kobo and N16. 4 Kobo per share respectively.

For the second consecutive trading sessions, Union Bank of Nigeria was the most active stock at 79. 566 million shares valued at N421.699 million.

While Communication giant, MTN Nigeria finished trading as the most valuable equity at N1.613 billion.


Add a Comment

Your email address will not be published. Required fields are marked *