Nigerian equity market, yesterday, sustained its positive outlook as the overall performance measures, NGX ASI and market capitalisation, rose further by 0.15 per cent. Market watchers attributed the development to sustained confidence as bargain hunters leveraged undervalued stocks. Consequently, the All- Share Index rose by 63.95 basis points or 0.15 per cent to close at 40.829.15 index points as against 40.765.20 recorded the previous day, while market capitalisation of equities appreciated by N33 billion or 0.15 per cent to close higher at N21.275 trillion from N21.242 trillion, as market sentiment remained in the green territory.
Meanwhile, a turnover of 812.29 million shares in 4,863 deals was recorded in the day’s trading. The premium sub-sector was the most active (measured by turnover volume) with 642.76 million shares exchanged by investors in 1,839 deals. Volume in the sub-sector was driven by activities in shares of FBNH Plc and Access Bank Plc.
The banking subsector, boosted by activities in shares of Fidelity Bank Plc and Access Bank Plc, followed with a turnover of 69.24 million shares in 772 deals. The number of gainers at the close of trading session was 24, while decliners closed at 20. Further analysis of the day’s trading showed that UPL Plc led the gainers’ table with 9.92 per cent to close at N1.44 per share, while Presco Oil Plc followed with 5.92 per cent to close at N85.00 per share and Chams Plc with a gain of 4.76 per cent to close at 22 kobo per share.