Nigerian stock market gains N325bn on enhanced buying interest

The Nigerian stock market extended its positive rally on Thursday, appreciating further by N325 billion, amid increased buying interest.
Specifically, the market capitalisation inched higher by N325 billion or 1.54 per cent to close at N21.418 trillion from N21.093 trillion on Wednesday.

In the same vein, the All-Share Index garnered 622.09 points or 1.54 per cent to close at 40,963.14 compared with 40,341.05 on Wednesday.

The uptrend was driven by price appreciation in medium and large capitalised stocks amongst which are; Seplat, Dangote Cement, MTN Nigeria Communications, Ardova and NASCON Allied Industries.

Consequently, the market breadth remained positive with 49 gainers in relative to seven losers.

Champion Breweries led the gainers’ chart in percentage terms, gaining 9.82 per cent to close at N1.23 per share.

NASCON Allied Industries followed with 9.72 per cent to close at N17.50, while Japaul Gold and Ventures rose by 9.45 per cent to close at N1.39 per share.

AXA Mansard Insurance grew by 9.42 per cent to close at N1.51, while Ardova appreciated by 9.25 per cent to close at N21.85 per share.

Conversely, Courteville Business Solutions dominated the losers’ chart in percentage terms, dropping 8.33 per cent to close at 22k per share.

Neimeth International Pharmaceuticals followed with 6.36 per cent to close at N2.06, while Union Diagnostic and Clinical Services shed 3.13 per cent to close at 31k per share.

Jaiz Bank dropped 2.78 per cent to close at 70k, while John Holt lost 1.96 per cent to close at 50k per share.
Also, the total volume of shares transacted improved by 72.9 per cent with an exchange of 809.36 million shares worth N8.91 billion in 6,706 deals.
This was against a total of 468.15 million shares valued at N6.96 billion exchanged in 5,697 deals on Wednesday.

Transactions in the shares of Transcorp topped the activity chart with 136.58 million shares valued at N130.19 million per share.
-Vanguard

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