Investors' fortune rises by N1.8 billion in one day
THE bulls strengthened hold on the equities sector of the capital market, yesterday, as virtually all the bluechip stocks recorded price appreciation, raising investors' wealth by N1.83 billion.
At the close of transactions, the market capitalisation of listed equities increased by 3.94 per cent to N48.139 trillion from N46.316 trillion reported the previous day.
The all share- index that measures the performance of listed equities, appreciated by 3330.21 basis points to 87971.1 points from 84640.89 point traded on Monday.
On what will shape the market in the next trading session, Vetiva Dealing and Brokerage said: "The bulls have continued to dominate market activity this year. However, we are likely to see some price corrections tomorrow as investors take profit after four straight sessions of positive performance. "
Dangote Sugar , Flour mill Nigeria Plc, Sterling Bank, NASCON, International Breweries, Berger Paint added 10 per cent each to close at N81.40 kobo, N45.10 kobo, 7.59 kobo, N71.50 kobo, N5.83 kobo and N15.40 kobo.
On the other hand, Royal Express topped losers' chart, dropping by 9.18 per cent to close at 89 kobo, Multiverse trailed with a loss of 6.59 per cent to close at N17. Ellalakes was down by 4.79 per cent to close at N3.38 kobo, C& I Leasing fell by 4.55 per cent to close at N4.20 kobo, Oando Plc declined by 3.2 per cent to close at N12.10 kobo.
Volume of activities went up by 258.493 million, representing 32.01 per cent as investors exchanged 1.066 billion shares valued at N15.767 billion in 14505 deals.
Transactions in the shares of Jaiz Bank led market activities with 147.637 million shares valued at N497.485 million.
AIICO Insurance followed with account of 98.495 million shares worth N128.34 million, FCMB group traded 61.073 million shares cost N735.894 million.
Sterling Bank exchanged 55.838 million shares valued at N417.077 million, Transnational Corporation of Nigeria sold 48.666 million shares cost N770.582 million.