Equity market gains N59bn on blue chip firms

Nigerian equity market on Thursday returned to green route as the overall performance measures, NSE ASI and market capitalisation, rose further by 0.40 per cent.

The market breath closed positive with 21 gainers against 12 decliners.

Consequently, the All-Share Index appreciated by 114.38 basis points or 0.40 per cent to close at 28,563.87 index points as against 28.449.49 recorded the previous trading session.

Market capitalisation of equities grew by N59bn from N14.87tn the previous day to N14.93tn as market sentiment remained on the positive territory.

Meanwhile, a turnover of 311.33 milion shares exchanged in 3,375 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); with 144.33 million shares exchanged by investors in 1,443 deals.

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

Also, the banking sub-sector boosted by the activities in the shares of GTBank Plc and Ecobank Plc followed with a turnover of 112 million shares in 549 deals.

Further analysis of the day’s trading showed that in percentage terms, UACN Plc topped the day’s gainers’ table with 8.33 per cent to close at N7.15 per share while Union Dicon Plc followed with eight per cent to close at 27 kobo per share.

FCMB Plc added 7.96 per cent to close at N2.44 kobo per share.

On the flip side, Wapic Insurance Plc led the losers with a drop of 9.09 per cent to close at 40 kobo per share while UAC Property Development Plc shed 3.66 per cent to close at 79 kobo per share.

GSK Plc trailed with 3.57 per cent to close at N5.40 per share.

<<Punch>>