Equity market remains bullish, gains N468bn

Transactions on the floor of Nigerian Exchange on Friday closed northward, appreciating by N468 billion as investment in the shares of GTCO, AccessCorp, Zenith Bank and others lifted activities in the market.

Specifically, market capitalisation of listed equities increased by 1.43 per cent to N33.197 trillion from N32.729 trillion reported the previous day.

The NGX All Share Index also appreciated by 859.41 basis points to 60968.27 points from 60108.86 points traded the previous day.

An analysis of the Investment showed that PZ Cusson led gainers table in percentage terms, gaining 10 per cent to close at N22.00, Eterna followed with a gain of 9.95 per cent to close at N21.00, Learn Africa gained 9.93 per cent to close at N3.21 per unit, Ikeja Hotel added 9.92 per cent to close at N3.99 per unit, Transco Hotel gained 9.91 per cent to close at N23.40 per unit.

On the contrary, Pharm Deko topped losers chart, declining by 10 per cent to close at N1.80 per unit, Cornerstone Insurance trailed with a loss of 9.09 per cent to close at N1.10 per unit, Guinea Insurance traded 8.70 per cent to close at N0.21 per unit, Universal Insurance also fell by 8.70 per cent to close at N0.21 per share, Prestiges Insurance dipped by 7.69 per cent to close at N0.48 per unit.

The volume of trades increased as investors traded 998.080 million shares valued at N15.956 billion in 10580 deals against 963.696 million shares worth N12.533 billion exchanged hands the previous day in 9463 deals.

Trading activities in the shares of AccessCorp led market activity with 255.060 million shares valued at N4.146 billion, FCMB followed with account of 97.169 million shares worth N498.022 million, United Bank for Africa traded 90.631 million shares worth N1.113 billion, GTCO Plc sold a total of 77.034 million share valued N2.690 billion, Zenith Bank exchanged 74.398 million shares cost N2.531 billion reported the previous day.