Equities market sustains Bullish momentum with N112 billion gain

The Nigerian equities market resumed the week, still on an upward trend, to mark a fourth consecutive day growth.

The increase was posted amidst lingering optimism in the banking and consumer goods sector, while the oil and gas stocks continue to bleed on account of a global slump in oil price on oversupply of the commodity.

The All- Share Index (ASI), at 34,135.10 points, climbed 0.96 per cent or 324.54 points upwards posting a stronger growth than previous trading session when the ASI added 12.72 points to close at 33,810.56 points.

The Market Capitalisation similarly closed at N11.804 trillion after adding 112 billion in Monday, compared to last sessions growth of N4 billion, when market capitalisation closed at N11.692 trillion.

A total of 482.5 million shares was traded in 5771 deals valued N5.682 billion, from 493.3 million shares worth N6.237 billion traded on Friday,

Cement Company of Northern Nigeria led the day’s gainers with an increase of 10.17 percent to close at N9.75 per share. May & Baker was next with an increase of 9.87 per cent to close at N5.01, while International Breweries came third on the gainers’ list with an appreciation of 8.83 per cent to close at N28.35 per share.

AIICO followed with a gain of 8.47 per cent to close at 64 kobo; and Skye Bank gained 8 per cent to close at 81 kobo per share.

Topping the losers chart was CAP Plc with a decline of 9.52 percent to close at N34.20. Mobil trailed with a loss of 5 percent to close at N250.90 Forte Oil declined by 4.98 per cent to close at N52.81 per share.

FBN Holdings was down by 4.93 per cent to close at N6.55, while Nigerian Aviation Handling Company. depreciated by 4.92 per cent to close at N3.09 per share.

Wema Bank topped activity chart with 62.9 million shares traded worth N36.2 million, Guaranty Trust Bank was next with 50.4 million shares valued at N1.8 billion and Access Bank exchanged 34.5 million shares worth N344.9 million.

Transcorp transacted 32.3 million shares at N58.7 million and Fidelity Bank emerged the fifth most traded stock with 31.7 million shares valued at N41.6 million.