Nigerian stocks yesterday sustained positive outlook as the overall performance measures, NSE ASI and market capitalisation, rose further by 0.34 per cent. Market watchers attributed the development to sustained confidence as bargain hunters leverage on under value stocks. Consequently, the All-Share Index rose by 86.82 basis points or 0.34 per cent to close at 25,413.95 index points as against 25,327.13 recorded the previous day while market capitalisation of equities appreciated by N46 billion or 0.34 per cent to close higher at N13.258 trillion from N13.212 trillion as market sentiment remained on the green territory. Meanwhile, a turnover of1.07 billion shares in 3,221 deals was recorded in the day’s trading.
Real Estate Development sub-sector was the most active (measured by turnover volume); with 947.74 million shares exchanged by investors in 21 deals. Volume in the sub-sector was driven by activities in shares of UAC-Property Development Company Plc. The premium sub-sector boosted by activities in shares of Access Bank Plc and Zenith Bank Plc followed with a turnover of 48.04 million shares in 1,043 deals.
The number of gainers at close of trading session was 27 while decliners also closed at 9. Further analysis of the day’s trading showed that Livestock Feeds Plc led the gainers’ table with 10 per cent to close at 66 kobo per share while Eterna Oil Plc followed with 9.47 per cent to close at N2.08 per share and Jaiz Bank Plc with a gain of 8.93 per cent to close at 61 Kobo per share. On the flip side, Wapic Insurance Plc led the losers’ chart with a drop of 5.71 per cent to close at 33 kobo per share. UBN Plc followed with a loss of 5.66 per cent to close at N5.00 per share while PZ Cussons Plc dropped by 2.38 per cent to close at N4.10 per share.