The Nigerian stocks yesterday sustained its positive outlook as the overall performance measures, NSE ASI and market capitalisation, rose further by 0.20 per cent. Market watchers attributed the development to sustained confidence as bargain hunters leverage under value stocks. Consequently, the All-Share Index rose by 48.3 basis points or 0.20 per cent to close at 24,930.34 index points as against 24,882.04 recorded the previous day while market capitalisation of equities appreciated by N26 billion or 0.20 per cent to close higher at N13.005 trillion from N12.979 trillion as market sentiment remained on the green territory. Meanwhile, a turnover of 173.75 million shares in 3,646 deals was recorded in the day’s trading. The premium sub-sector was the most active (measured by turnover volume); with 58.19 million shares exchanged by investors in 1,115 deals.
Volume in the sub-sector was driven by activities in the shares of Lafarge Africa Plc and FBNH Plc. The banking sub-sector boosted by activities in shares of GTB Plc and Sterling Bank Plc followed with a turnover of 30.65 million shares in 558 deals. The number of gainers at the close of trading session was 20 while decliners closed at 10.
Further analysis of the day’s trading showed that Seplat Petroleum Plc led the gainers’ table with 9.03 per cent to close at N3.50 per share while Fidson Healthcare Plc followed with 8.57 per cent to close at N3.42 per share and Stanbic IBTC Plc with a gain of 4.76 per cent to close at N33.00 per share.