Equity Investors Gain N69 Bln as Nigerian Bourse Rallies

Equity Investors Gain N69 Bln as Nigerian Bourse Rallies

Equity investors see N69 billion gain on Thursday as shares appreciate following buying interest in mid to large-cap stock, thus sustaining an upward trend.

Accordingly, the market capitalisation which opened at N25.411 trillion inched higher by N69 billion to close at N25.480 trillion. Similarly, the All-Share Index rose by 129.11 points or 0.27 per cent to close at 47,286.34 against 47,157.23 on Wednesday.

Consequently, the month-to-date and year-to-date gains increased to 1.4 per cent and +10.7 per cent, respectively.

The gain was driven by price appreciation in large and medium capitalised stocks amongst which are: Total Nigeria, Guinness, Four Mills, Nigerian Exchange Group (NGXGroup) and FBN Holdings (FBNH).

Analysts at Afrinvest Ltd. said, “In the final trading session for the week, we anticipate an extended positive performance on improved investor sentiment.”

Today, stock data shows the market closed positive with 30 gainers relative to nine losers. Guinness dominated the gainers’ chart with the highest price gain of 10 per cent to close at N55 per share.

TotalEnergies Marketing Nigeria, formerly (Total Nigeria), followed with a gain of 9.92 per cent to close at N264.90, while UACN Property Development Company was up by 9.90 per cent to close at N1.11 per share.

R.T. Briscoe Nigeria rose by 9.09 per cent to close at 36k, while University Press appreciated by 8.16 per cent to close at N2.65 per share.

On the other hand, Veritas Kapital Assurance led the losers’ chart by 4.35 per cent to close at 22k per share.

Union Bank of Nigeria followed with a loss of 3.20 per cent to close at N6.05, while Ikeja Hotel declined by 2.74 per cent to close at N1.42 per share. Regency Alliance Insurance lost 2.50 per cent to close at 39k, while FCMB Group depreciated by 2.34 per cent to close at N2.92 per share.

The total volume of trades decreased by 33.4 per cent to 198.115 million units, valued at N3.405 billion exchanged in 4,294 deals. Transactions in the shares of Chams Plc topped the activity chart with 16.738 million shares valued at N3.515 million.

Transcorp followed with 15.38 million shares worth N17.82 million, while Access Bank traded 14.29 million shares valued at N149.46 million.

United Bank for Africa traded 12.54 million shares valued at N109.82 million, while Flour Mills transacted 12.15 million shares worth N389.37 million. #Equity Investors Gain N69 Bln as Nigerian Bourse Rallies