Business

Wema, AIICO lead gainers in market rally

The bulls maintained grip on market activities yesterday as gains recorded by Wema Bank Plc, AIICO Insurance Plc and 14 other lifted market activities to sustain positive sentiments. The key market performance measures, the NSE All Share Index, rose by 0.39 per cent as market sentiments extended gaining streaks following investors’ sustained positive interest.

Consequently, the All- Share Index gained 104.12 basis points or 0.39 percent to close at 26.611.96 as against 26.507.84 recorded the previous day while the market capitalisation of equities appreciated by N54 billion to close at N13.907 trillion from N13.853 trillion as market sentiment remained on the green zone. Meanwhile, a turnover of 413.10 million shares exchanged in 4,681 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); with 208.65 million shares exchanged by investors in 2,171 deals. Volume in the sub-sector tor was largely driven by activities in shares of UBA Plc and Zenith Bank Plc.

The banking sub-sector boosted by activities in shares of Sterling Bank Plc and GTBank Plc followed with a turnover of 122.34 million shares in 602 deals. The number of gainers at the close of trading session was 16 while decliners closed at 11.

Wema Bank Plc led the gainers’ table by 7.55 per cent to close at 57 kobo per share while AIICO Insurance Plc followed with 6.33 per cent to close at 84 kobo per share. Africa Prudential Plc added 4.00 per cent to close at N4.68 per share.

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