FBN Holdings, AXA Mansard, Others Lift Equities Market To N32.9bn Gain
The stock market was bullish Thursday, resulting in 0.0.13 per cent or N32.9 billion gain in the market capitalisation, a key indicator of the Nigerian Exchange Limited (NGX).
The All-Share Index (ASI) gained 61 index points or 0.13 per cent to close at 46,965.48 points up from 46,904.48 points it closed the previous day.
The market capitalization closed Thursday at N25,311,834,226,909.19, up from
N25,278,961,189,969.49 of Wednesday and ending in
N32,873,036,939.7
The appreciation of the market was impacted by gains recorded by large and medium equities like Meyer Plc, AXA Mamsard Insurance Plc, FBN Holdings Plc, Coutville Plc and Okomu Oil Plc.
The market turnover rose by 27.2 per cent as investors bought and sold a total of 256.02 million shares worth N3.66 billion in 4,227 deals, compared to 201.2 million units of shares valued at N2.62 billion in 4,017 deals traded the previous trading session.
Despite the gain recorded by the exchange, the market breadth closed negative with 30 losers and 14 gainers as against seventeen laggards and sixteen stocks recording appreciations the previous trading session.
Meyer Plc was the biggest gainer in percentage terms, ss the building materials firm appreciated by 10 per cent to close at N0.66 kobo per share.
Financial services companies, AXA Mamsard Insurance Plc and FBN Holdings Plc followed with 9.72 per cent and N6.90 per cent rise to close at N2 .37 kobo and N12.40 kobo per share respectively.
Also, the shares of Coutville Plc jumped 5.66 per cent to close at N0. 56 kobo per Adare, while Okomu Oil Plc soared by 4.32 per cent to close at N149. 70 kobo per share.
On the flip side, the losers’ table was led in percentage terms by Northern Nigeria Flour Mills Plc as the food chain firm dipped 10 per cent to close at N9 per share.
In the same vein, Neimeth pharmaceutical lost 9.55 per cent to close at N1. 42 per share, while Berger Paints Plc fell 9.33 per cent to close at N6.80 kobo per share.
Similarly, RtBriscoe Plc declined 9.23 per cent to close at N0. 59 kobo per share, while Nigerian Breweries Plc shed 9.10 per cent to close at N40.45 kobo per share.
Analysis of the NGX market activity chart shows that Fidelity Bank Plc was the most active stock, xss the lender traded a total of 77.34 million units of shares worth N242.26 million, while Zenith Bank Plc closed as the most valuable equity on the bourse with 15.24 million shares valued at N343.36 million.
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