Equity market gains N265bn

Local equity market Thursday closed northward, appreciating by N265 billion, following gains recorded by small and medium stocks which boosted market activities.

The market growth reflects investors’ ongoing portfolio realignment across diverse sectors.

The trading result showed that year to date return rose to 4.34 per cent while the trading session for the day recorded 48 gainers against 23 losers.

However, market capitalisation of listed equities increased by 0.62 per cent to N42.694 trillion from N42.429 trillion it closed on Wednesday.

The NGX All Share Index also appreciated by 482.97 basis points to 78020.54 points from 77537.57 points reported the previous day.

An analysis of the investment showed that Wema Bank, Learn Africa led gainers table with 10 per cent each to close at N6.71 and N3.19 per share respectively. Transnational Corporation of Nigeria followed with a gain of 9.93 per cent to close at N11.51 per unit, Ikeja Hotel added 9.92 per cent to close at N7.98 per unit, Sterling Bank gained 9.83 per cent to close at N5.25 per share.

On the contrary, Multiverse topped the losers chart, declining by 9.97 per cent to close at N20.22 per unit. Meyer Paint trailed with a loss of 9.75 per cent to close at N3.24 per unit, Triple G fell by 9.30 per cent to close at N1.95 per share, JohnHolt declined by 8.62 per cent to close at N2.12 per share, ABC Transport down by 8.25 per cent to close at N0.89 per share.

Volume of Transactions increased by 56.635 million, representing 6.11 per cent as investors traded 984.193 million shares valued at N11.161 billion in 12976 deals against 927.558 million shares worth N10.691 billion exchanged hands the previous day in 11629 deals.

Trading in the shares of FCMB group led market activities with 106.813 million shares valued at N957.534 million Fidelity Bank followed with account of 103.057 million shares worth N1.306 billion, Unity Bank traded 75.788 million shares cost N156.245 million, Sterling Bank exchanged 71.561 million shares valued at N373.179 million while Universal Insurance traded 43.698 million shares worth N12.844 million.

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