Domestic equity remains bullish, gains N272bn

Trading activities on the floor  of Nigerian Exchange )NGX) closed in positive direction on Thursday, appreciating by N272 billion, despite the scarcity of fuel and new naira notes in the financial system.

The market during the yesterday’s trading hit N29 trillion mark on the process.

Capital market operators said that many investors instead of depositing their old cash in the bank decided to invest in highly paying stocks to receive return on their Investment before closing dates of company paying stocks.

Market capitalisation of listed equities on Thursday increased by  0.93 per cent to N29.411 trillion from N29.139 trillion reported the previous day.

The NGX All Share Index also appreciated by 498.44 basis points to 53998.12 points from 53499.68 traded on Wednesday.

Volume of transactions went up as investors traded 2.869 billion valued at N8.069 billion in 3940 deals against 200.368 million shares cost N5.524 billion recorded in 3716 deals.

An analysis of the investment showed that MRS led the gainers’table during the day, appreciating by 10.00 per cent to N17.60, Northern Nigeria Flour Mills Nigeria Plc followed with a gain of 9.88 per cent to N8.90, International Energy Insurance added 9.76 per cent to N0.90 Seplat Energy increased by 9.50 per cent to N1325.00, Cornerstone Insurance gained 9.09 per cent to N0.60.