Local equity market remains bullish, gains N46bn

The local equity market on Friday closed the week in a bullish run, appreciating by N46 billion following gains recorded by Airtel Africa, United Bank for Africa, Ecobank Transnational Incorporated, CWG and other 18 companies which lifted the market activities.

Market capitalisation of listed equities specifically increased by 0.12 per cent to N39.148 trillion from N39.102 trillion reported the previous day.

The NGX All Share Index also appreciated by 83.82 basis points to 71541.74 points from 71457.92 points traded on Thursday.

An analysis of investment showed that Multiverse led gainers table in percentage terms, appreciating 9.95 per cent to close at N9.39 per share, Infinity Savings followed with a gain of 9.94 per cent to close at N1.77 per unit, PZ Cusson added 9.87 per cent to close at N25.60, Ecobank Transnational incorporates up by 9.79 per cent to N20.75 per unit, Champion Breweries gained 9.09 per cent to close at N3.60 per unit.

On the contrary,

FBNHoldings topped losers chart dropping by 10 per cent to close at N23.85 per share, MRS trailed with a loss of 9.96 per cent to close at N99.00, Learn Africa fell by 9.82 per cent to close at N3.03 per unit, Neimeth international Pharmaceutical down by 9.52 per cent to close at N1.90 per unit, NPF Micro Finance Banks depreciated by 9.39 per cent to close at N1.93 per unit.

Volume of trades up by 67.283 million, indicating 15.41 per cent as investors traded 503.840 million shares valued at N7.208 billion in 5747 deals against 436.557 million shares cost N7.548 billion exchanged hands the previous day in 8412 deals.

Transactions in the shares of Regal insurance led market activities with 70.180 million shares valued at N25.920 million in 11 deals, Mutual Benefits followed with 67.276 million shares cost N33.698 million in 39 deals, Veritas Kapital traded 49.694 million shares worth N17.383 million in 58 deals, Nigerian Breweries exchanged 28.605 million shares cost N1.059 billion in 131 deals while Universal Insurance traded 21.653 million shares worth N5.937 million in three deals.

UNI Agric Markurdi
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