The equities market on Thursday witnessed a positive trajectory, driven by investors’ demand for Guaranty Trust Holding Company (GTCO), and 34 other fundamental stocks on the Nigerian Exchange Limited (NGX).
The NGX All-Share Index (ASI) gained 48.87 points or 0.07 percent to close at 71,052.85 basis points.
Consequently, the market capitalisation of overall listed companies rose by N27 billion to close at N39.075 trillion.
The upturn was driven by price appreciation in large and medium-capitalised stocks amongst which are; Beta Glass, Nigerian Enamelware, Mecure Industries, Guaranty Trust Holding Company (GTCO), and Multiverse Mining and Exploration.
Investor sentiment, as measured by market breadth was positive, as 35 stocks gained relative to 19 losers. Beta Glass emerged as the highest price gainer of 10 percent to close at N59.40, while Multiverse Mining and Exploration followed with a gain of 9.98 percent to close at N5.29 per share.
Nigerian Enamelware and MeCure Industries advanced by 9.97 percent each to close at N19.30 and N8.38 respectively, while Infinity Trust Mortgage Bank and Deep Capital Management & Trust rose by 9.87 percent each to close at N1.34 and 67 kobo respectively, per share.
On the other side, Ellah Lakes led others on the losers’ chart with 9.89 percent to close at N3.37, per share. Omatek Ventures followed with a decline of 9.17 percent to close at 99 kobo, while McNichols shed 5.56 percent to close at 85 kobo, per share.
Academy Press went down by 5.56 percent to close at N1.70, while NPF Microfinance Bank depreciated by 4.11 percent to close at N2.10 per share.
The total volume traded increased by 31.6 percent to 563.71 million units, valued at N3.44 billion, and exchanged in 6,579 deals. Transactions in the shares of Universal Insurance led the activity with 164.3 million shares worth N41.980 million. Veritas Kapital Assurance followed with an account of 77.129 million shares valued at N30.521 million, while Unity Bank traded 24.045 million shares valued at N40.345 million.
Chams Holding Company traded 20.778 million shares worth N46.182 million, while Zenith Bank traded 20.714 million shares worth N694.173 million.
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