Equity market sustains growth trend, gains N467bn

Trading activities on the floor of Nigerian Exchange on Friday sustained a growth profile, appreciating by N467 billion as gains in the capitalised stocks impacted positively on the market.

The market capitalisation of the listed equities increased by 0.84 per cent to N56.323 trillion from N55.856 trillion reported the previous day. 

The NGX All Share Index also appreciated by 824.47 basis points to 99587.25 points from 98762.78 points traded on Thursday.

The market positive performance was primarily driven by investors’ interest in stocks such as Dangote Sugar, FBNHoldings,Flour Mills Nigeria Plc, GTCO, MTN Nigeria, Presco, Stanbic, Zenith and 11 others.

As a result year to date return surged to 33.19 per cent. NGX printed more gainers as 29 companies recorded share appreciation against 20 firms close negatively.

An analysis of the investment showed that 

Presco Plc led gainers table, gaining 9.96 per cent to close at N252.80 per share, Dangote Sugar followed by 9.94 per cent to close at N47.00, Ellahlakes gained 9.93 per cent to closed at N3.32 per unit, Jaiz Bank added 9.81 per cent to close at N2.35 per share, Flour Mills Nigeria Plc gained 9.69 per cent to close at N36.80 per unit.

On the contrary, Conoil Plc and Tantalizer topped the losers chart, dropping by  10 per cent to close at N97.20 per unit and N0.36 per share respectively. Mcnichols trailed with a drop of 9.52 per cent to close at N1.14 per share, Linkage insurance fell by 9.47 per cent to close at N0.86 per unit Guinea Insurance dipped by 9.09 per cent to close at N0.30 per unit.

The market activity for the day was mixed as volume  of trades declined by 218.626 million representing 32.87 per cent. Investors bought 446.572 million shares valued at N7.100 billion in 9297 deals against 665.198 million shares valued at N5.541 billion in 8446 deals.

Transactions in the shares of AccessCorp led market activities with 151.795 million shares valued at N2.667 billion, Veritas Kapital followed with account of 49.876 million shares worth N30.914 million, United Bank for Africa traded 32.896 million shares cost N845.742 million, Universal Insurance traded 27.141 million shares cost N9.761 million while Transnational Corporation of Nigeria exchanged 21.819 million shares worth N310.315 million.