Equities Market Sustains Growth, Gains N334bn
The appetite of investors on Monday switched their attention towards the insurance sector, pushing Mansard Insurance to top activity with a sale of 90.181 million valued at N91.082 million.
The days trading featured no bank in the top five which rarely happens. Japaul Gold trailed with 45.455 million worth of shares at N16.816 million while Transcorp came next with 36.582 million shares worth N34.212 million, Sky Aviation followed closely with 24.000 million shares worth N63.740 million and AIICO Insurance traded 22.935 million shares at N29.599 million.
While investors traded in different industries of the market, the total transaction indices of equities however remained bullish, as the All-Share Index (ASI) and the market capitalisation all came out positively on Monday.
The ASI appreciated by 1.74 per cent to close at 37,443.40 basis points as against the 36,804.75 basic points it recorded Friday.
Also, the market capitalisation gained by N334bn or 1.74 per cent to close at N19.570 trillion, compared to N19.236 trillion it posted Friday.
The appreciation of the market was impacted by gains made by highly capitalized stocks. Amongst which are; Dangote Cement, Flour Mills, BOC Gas, Lafarge Africa and PZ Cussons Plc.
The market turnover increased marginally as investors traded in 427.059 million shares valued at N3.309 billion in 5,258 deals, as against 426.334 million shares worth N4.362 billion in 4,298 deals traded Friday. The market breadth was positive, with 40 gainers and 20 losers compared to 46 gainers and 7 losers Friday.
The losers’ table was led in percentage barometers by Eternal Plc, shedding 9.89 per cent to close at N4.1 per share. Ardova Plc lost 5.24 per cent to close at N13.55 per share, while Unilever Nigeria dipped by 2.79 per cent to close at N13. 95 per share.
Also, Zenith Bank fell by 2.02 per cent to close at N24. 3 per share, while Guaranty Trust Bank depreciated by 0.74 per cent to close at N33.5 per share.
On the flip side, the biggest gainers were dominated in percentage terms by BOC Gas, gaining 10 per cent to close at N7. 92 per share.
In the same vein, Dangote Cement surged by 9.98 per cent to close at N230.4 per share, while PZ Cussons rose by 7 per cent to close at N5.35 per share.
Flour Mills also moved up by 2.50 per cent to close at N26.65 per share, while Lafarge Africa appreciated by 2.27 per cent to close at N22. 5 per share.
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