Fears that the market would resume yesterday’s proceedings on a lull note were dispelled as investors trading on the Nigerian Stock Exchange (NSE) gained N259 billion at the close of transactions.
This came as a result of price appreciation in the shares of GT Bank, Dangote Cement, MTNN and oil and gas stocks, all of which propelled the All Share Index (ASI) up by 2.32 per cent to settle at 21,879.95 points.
Furthermore, investors gained N259 billion as market capitalisation advanced to N11.402 trillion while year-to-date (ytd) loss moderated to -18.5 per cent. However, activity level on the bourse was mixed as volume of stocks traded rose by 77.2 per cent to 557.81 million units while value of stocks traded declined by 47.9 per cent to N2.62 billion, exchanged in 5,310 deals.
Investor’ sentiment towards stocks was positive as 29 equities recorded gains, while 12 others recorded losses. Oando topped the gainers’ chart with 10 per cent to close at N2.64 per share, Nigerian Breweries trailed with 9.91 per cent to close at N24.40, Conoil was next with 9.89 per cent to close at N14.45, Stanbic garnered 9.62 per cent to close at N28.50 while Chams gained 9.52 per cent to close at 0.23 kobo.
On the flipside, PZ topped the losers’ chart with 9.09 per cent to close at N4. Redstarex followed with a loss of 5.86 per cent to close at N2.73, Lasaco dipped by 4.35 per cent to close at 0.22 kobo, Transcorp lost 4.29 per cent to close at 0.67 kobo while Neimeth fell by 3.85 per cent to close at 0.50 kobo.
Omoluabi led the activity chart with the sale of 293 million shares valued at N161.15 million. FBN Holdings sold 51.81 million shares worth N243.45 million while UBA traded about 35.64 milion valued at N220.51 million.