Equities market sustains growth as investors gain N143bn

The growth recorded in the equities market on Wednesday, was further strengthened as the Nigerian Stock Exchange All- Share Index (NSE ASI) appreciated by 1.17 per cent improving the year to date returns to 33.11 per cent at the close of Thursday’s trading session.

The NSE ASI added 415.41 points to close at 35,773.98 basis points the highest index point  in the last five trading sessions, while the market capitalisation grew by N143 billion to close the day at N12.314 trillion

Linkage Assurance Plc emerged as the highest gainer for the day, leading 30 other stocks and appreciating by 8.70 per cent to close at 75 kobo per share, Presco was second on the list with a gain of 5 per cent to close at N61.95 per share and Dangote Flour added 4.73 per cent to close at N6.64 per share.

Also featured on the top five gainers list are Nigerian Police Force Micro Finance Bank and Caverton Plc. They grew 4.50 and 4.39 per cent respectively and closed at N1.16 and N1.19 per share respectively.

On the flip side, Cadbury declined the most in share value for the day with a loss of 5 percent to close at N10.26 per share. MRS was next with a decline of 4.97 percent to close at N28.88 and Continental Re-Insurance dropped 4.90 percent to close at N1.36 per share.

Mobil was the fourth top loser for the day with a depreciation of 4.87per cent in its share price that closed at N161.72 and Law Union ended the day 4.30 per cent lower to close at 89 kobo per share.

Topping the sectoral performance for the day was the NSE Industrial Index that added 2.80 per cent on account of a 2.38 per cent or N5 appreciation in the shares of Dangote Cement and a 4 per cent or N2.08 growth in the shares of Lafarge Wapco. The banking index came second with a 0.78 per cent increase and the consumer goods index grew 0.51 per cent

At the close of the day’s trade, market turnover closed positive as volume moved increased by 82.36 per cent to 317.4 million shares compared to a decline of 72.56 per cent recorded in the previous session,

The value of shares traded in 3,327 deals amounted to N2.853bnas against N2.720bn recorded in prior session.

Skye Bank emerged the most active stock to boost turnover as it exchanged 94.3 million shares for N48.1 million. UBA was next with the sale of 35.7 million shares valued at N321.4m and Transcorp sold 26.04 million units at N34.9 million shares.

Afolabi Adesola