Nigerian equities market yesterday sustained its positive outlook for the second day as the overall performance measures, NSE ASI and market capitalisation, rose further by 0.07 per cent. Market watchers attributed the development to sustained confidence as bargain hunters leverage undervalued stocks.
The All-Share Index rose by 25.8 basis points or 0.07 per cent to close at 38,779.83 index points as against 38,774.03 recorded the previous day, while market capitalisation of equities appreciated by N14 billion or 0.07 per cent to close higher at N20.300 trillion from N20.286 trillion as market sentiment remained on the green territory. Meanwhile, a turnover of 146.33 million shares in 3,526 deals was recorded in the day’s trading. The premium sub-sector was the most active (measured by turnover volume), with 54.81 million shares exchanged by investors in 1,193 deals.
Volume in the sub-sector was driven by activities in shares of Zenith Bank Plc and FBNH Plc. The banking sub-sector, boosted by activities in shares of GTBank Plc and Fidelity Bank Plc, followed with a turnover of 34.42 million shares in 602 deals. The number of gain-ers at the close of trading session was 13, while decliners closed at 14. Further analysis of the day’s trading showed that CHI Plc led the gainers’ table by 9.68 per cent to close at 34 kobo per share while Japaul Gold Plc followed with 9.43 per cent to close at 58 kobo per share and Oando Plc with a gain of 5.16 per cent to close at N3.26 per share.
On the flip side, FG142027S1 led the losers’ chart by 26.79 per cent to close at N124.46 per share. Royal Exchange Plc followed with a loss of 7.69 per cent to close at 36 kobo per share while Jaiz Bank Plc dropped by 6.06 per cent to close at 62 kobo per share.