Equities extend 6-day gain with N282bn

The new month began on a bullish note as the Equities market of the Nigerian Stock Exchange (NSE) closed yesterday on a positive note, with the Market Capitalisation adding N282 billion to close at N10.47 trillion.

The NSE All Share Index (ASI) appreciated by +2.77 per cent to close at 30,314.14 basis points, as against +0.76 per cent appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +12.80 per cent.

The Equity Market has so far recorded a whopping N432 billion in three trading days after the Democracy Day celebration on the heels of the passage of the Petroleum Industry Governance Bill (PIGB) by the Nigerian Senate and the executive order signed by the acting president, penultimate week.

Market breadth closed positive as FBNH led 39 Gainers against 11 Losers topped by LINKASSURE at the end of today’s session-an improved performance when compared with previous outlook.

Market turnover closes positive as volume moved up by +26.59 per cent against -58.78 per cent downtick recorded in the previous session. Diamond Bank, UBA and Access Bank were the most active to boost market turnover. Guaranty Trust and Zenith banks topped market value list.

Mobil gained N14.22 to close at N298.87. Dangote Cement gained N8.75 to close at N183.75 and Betaglass gained N2.41 to close at N50.7. SEPLAT leads the list of active stocks that recorded impressive volume spike at the end of today’s session.

The summary of the Market Activities shows that, 434m shares valued at N4.6 billion exchanged hands in 5,107 deals.