Equity market gains N93bn

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The local equity market on Thursday sustains upward trend, appreciating by N93 billion as sell off in the shares of Transnational Corporation of Nigeria, Fidelity Bank and others boosted market activities.

Market capitalisation of listed equities increased by 0.33 per cent to N27.963 trillion from N27.870 trillion reported the previous day.

The NGX All Share Index also appreciated by 177.33 basis points to 51355.74 points from 51178.41 points traded on Wednesday.

An analysis of the transaction during the day showed that

Transco Hotel and Access Corp led gainers table during the day appreciating by 10 per cent each to close at N7.15 per share and 9.90 per share respectively.

Transnational Corporation of Nigeria followed with a gain of 9.87 per cent to close at N2.45 per share, Fidelity Bank traded 9.85 per cent to close at N5.80 per share, FCMB added 9.80 per cent to close at N3.81 per cent.

Champion Breweries on the other hand topped losers table during the day in percentage terms, declining by 9.96 per cent to close at N4.43 per unit, Jaiz Bank trailed with a loss of 8.42 per cent to N0.87 per share, Cutix Plc dipped by 4.35 per cent to close at N2.20 per share, Caverton down by 2.91 per cent to close at N1.00 while Eterna dropped by 2.52 per cent to close at N5.80 per share.

At the close of trading, investors traded 600.778 million shares valued at N5.054 billion in 4309 deals against 1.272 billion shares valued at N3.977 billion exchanged hands the previous day in 3505 deals.