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HomeEconomyEquities Market Remains Bullish as Investors Gain N127.49bn

Equities Market Remains Bullish as Investors Gain N127.49bn

The All-Share Index picked up from Friday’s 46,631.46, rising by 0.51 per cent to close at 46,867.95 points on Monday.

Similarly, the market capitalisation recorded N127.49 billion increase, 0.51 per cent, to close at N25.266 trillion from N25.266 trillion on Friday.

The primary drivers of the strong performance of the market were buying interests in the telecommunication company, MTNN and the gains in Tier-1 banks, Zenith Bank, ACCESSCORP as well as United Bank for Africa (UBA).

The market breadth closed positive as 32 stocks advanced against 13 stocks that declined.

The share prices of NAHCO gained 10 per cent to top the gainers’ list to close at N5.50 per share, while UACN appreciated by 9.9 per cent to close at N11.10 per share.

Meyer gained by 9.73 per cent to close at N1.24 per share

Royal Exchange Insurance and Learn Africa inched by 9.47 per cent and 9.25 per cent to close at N1.04 and N1.89 per share respectively.

Also, Cutix rose by 8.11 per cent to close at N2.40 per share, while WAPIC increased by 7.50 per cent to close at 43k

Conversely, ACADEMY declined by 9.60 per cent to lead the losers’ chart to close at N1.60 per share.

Mutual Benefit Assurance followed by 7.69 per cent to close at 24k per share.

Japaul Gold dropped by 5.88 per cent to close at 32k, while Multiverse shed 4.55 per cent to close at 21k per share.

Prestige Insurance fell by 4.44 per cent to close at 43k per share.

FTNCocoa declined by 3.18 per cent to close at 31k while Unity Bank depreciated by 2.13 per cent to close at 46k per share.

Meanwhile, the total volume of shares traded depreciated by 1.20 per cent with an exchange of 224.64 million shares compared with 154.12 million shares in 5,946 deals recorded on Friday.

Also the total value of trading posted stood at N3.82 billion in contrast with N1.75 billion on April 7. This represents 117 per cent increase.

Also, GTCO led the volume chart for the day as it traded 43.26 million shares worth N994.25 billion.

Zenith Bank followed with 31.125 million shares worth N740.24 million;

Sterling Bank sold 23.42 million shares valued at N35.117 million, while Fidelity Bank accounted for 13.84 million shares worth N51.184 million.

ACCESSCORP sold 12.38 million shares valued at N124.736 million, while NAHCO transacted N7.86 million shares worth N42.58 million.

Also, MTNN led the value chart in deals worth ₦1.03 billion. (NAN)

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