Domestic equity sustains bullish run, gains N253bn

The nation’s domestic equity, Friday, closed in a positive note; gaining N253 billion as sell-off in shares of Zenith Bank Plc, GTCO Plc, United Bank for Africa and Sterling Bank, lifted activities in the market.

Market capitalisation of listed equities appreciated by 0.89 per cent to close at N28. 602 trillion from N28.349 trillion reported the previous day.

The NGX All Share Index also appreciated by 463.63 basis points to  52512.48 points from 52048.85 points traded on Thursday.

Market sentiment, as measured by market breadth was positive with 36 gainers relative to 12   decliners.

The NGX trading result for the week indicated that between Monday and Friday, the local equities appreciated by 1.58 per cent. The market cap grew by N447 billion to N28.602 trillion from N28.155 trillion it closed on Monday while the index up by 819.40 basis points to close at 52512.48 from 51693.08 reported on Monday

An analysis of Investment for the day showed that Linkage Assurance, Total Energy and Berger paint led gainers table during the day appreciating by 10 per cent each to close at N0.44 per cent, N212.30 and N6.60 per unit respectively. Thomas Wyatt followed with a gain of 9.63 per cent to N1.48, Prestige Insurance added 9.52 per cent to N0.46.

On the contrary,

Lasaco Insurance topped losers chart, dropping by 10 per cent to N0.99, CWG trailed with a loss of 9.52 per cent to close at N0.95 per unit, Chellaram dipped by 9.46 per cent to close at N1.34 per share, Royal Exchange down by 7.14 per cent to N0.91 while Fidson Health care declined by 4.60 per cent to close at N9.34 per unit.

However, the total volume of trades for the day increased  by 3.50 per cent to 219.162 million units, valued at N2.552  billion in 4591 deals against  211.742 million shares cost N7.725 billion exchanged hands the previous day in 3462 deals.

Transactions in the shares of  Zenith Bank Plc topped the activity chart during the day,  with 20.310 million shares valued at N517.738 million, GTCO Plc followed with account of 18.202 million shares valued at N449.906 million, United Bank for Africa traded 17.145 million shares cost N144.387 million, Sterling Bank exchanged 15.145 million shares cost N24.342 million while Transnational Corporation of Nigeria (Transcorp) sold a total of 11.704 million shares cost N140.548 million.