Stocks rally, gain N101bn

The equities market closed on a positive note yesterday, as the market capitalization of equity listed on the exchange gained N101 billion.

Consequently, the NSE ASI appreciated by 0.51 per cent to close at 38,964.75 basis points, compared with the depreciation of 1.55 per cent recorded last Friday.

Market turnover closes positive as volume traded appreciated by 27.54 per cent against 30.90 per cent upbeat recorded in previous session. Zenith Bank, Access Bank, and Transnational Corporation were the most active to boost market turnover. Zenith Bank and Guaranty Trust Bank top market value list.

Market breadth closed negative as Oando leads 24 gainers against 36 losers topped by Vitafoam at the end of the trading which is an improved performance when compared with previous outlook.

Oando Plc recorded N1.86 kobo to close at N20.06 kobo per share, UBA Capital Plc appreciated by N0.20 kobo to close at N2.48 kobo per share and UBA Plc with N0.55 kobo to close at N7.49 kobo per share.

On the losers’ chart Vitafoam Plc lead with a loss of N0.53 kobo to close at N4.47 kobo, followed by Air Service of Nigeria Plc with N0.27 kobo to close at N2.58 kobo and Skye Bank Plc with N0.20 kobo loss to close at N3.40 kobo per share.