Stock Market Extends Gain With N66bn

The Nigerian equity market, on Thursday, sustained its positive outlook as the All-Share Index and market capitalisation rose further by 0.3 per cent.

However, market breadth closed positive with 27 gainers against 14 decliners.

The ASI gained 125.7 basis points or 0.3 per cent to close at 40,590.85 index points as against 40,465.15 recorded the previous day while the market capitalisation of equities appreciated by N66bn to close at N21.224tn from N21.158tn as market sentiment remained in the green zone.

Meanwhile, a turnover of 2.13 billion shares exchanged in 4,559 deals was recorded in the day’s trading.

Beverages/distillers subsector was the most active (measured by turnover volume), with 1.91 billion shares exchanged by investors in 237 deals.

Volume in the subsector was largely driven by activities in the shares of Champion Breweries Plc and Guinness Nigeria Plc.

The premium subsector boosted by activities in the shares of UBA Plc and Access Bank Plc followed with a turnover of 69.41m shares in 1,360 deals.

The number of gainers at the close of trading session was 29 while decliners also closed at 14.

FTN Cocoa, Plc, Livestock’s Feeds Plc and Seplat Petroleum Plc led the gainers’ table with a gain of 10 per cent each to close at 66 kobo, N1.65, N451.00 per share respectively while ARDOVA Plc followed with a gain of 9.96 per cent to close at N14.90 per share.

Japaul Gold & Ventures Plc added 9.88 per cent to close at 89 kobo per share.

On the other hand, Sovereign Trust Insurance Plc led the price losers’ table, dropping 9.89 per cent to close at 20 kobo per share. Courteville Business Solution Plc followed with 8.70 per cent to close at 21 kobo per share while LASACO Assurance Plc recorded a loss of 7.89 per cent to close at 35 kobo per share.

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