Equity market sustains bullish run, gains N488bn

Trading activities on the floor of Nigerian Exchange on Thursday sustained bullish trend, appreciating by N488 billion

Market capitalisation of listed equities grew by 1.22 per cent to N40.652 trillion from N40.164 trillion reported the previous day. The NGX All Share Index also appreciated by 891.31 basis points to 74289.02 points from 73397.71 points traded on Wednesday.

A review of the investment during the day showed that Transnational Corporation of Nigeria and IMT led gainers with 10 per cent each to close at N8.47 and N9.35 per share respectively.

Okomu Oil and Multiverse followed with a gain of 9.96 per cent each to close respectively at N263. 90 and N12.70 per share, Infinity Savings added 8.87 per cent to close at N4.12 per unit. On the contrary, JohnHolt recorded the highest loss with a drop of 10 per cent to close at N2.34 per unit, Ellah Lakes followed with a drop of 9.94 per cent to close at N2.90 per unit, Tripple G declined by 9.66 per cent to close at N2.15 per share, Regal Insurance down by 8.11 per cent to close at N0.34 per unit, UACN dipped by 5.96 per cent to close at N15. 00 per unit.

Volume of trades also improved by 206.288 million, representing 37.19 per cent as investors traded 760.929 million shares valued at N13.026 billion in 7990 deals against 554.644 million shares worth N12.829 billion exchanged hands the previous day in 7910 deals. Transactions in the shares of Abbey Building Society led market activities with 224.084 million shares valued at N365.278 million, Accesscorp followed with account of 65.795 million shares cost N1.522 billion, Transnational Corporation of Nigeria traded 65.304 million shares worth N552.557 million, United Bank for Africa exchanged 45.978 million shares cost N1.197 billion, GTCO traded 43.592 million shares valued at N1. 744 billion.