Stock market rakes in N1.38trn daily gain

The Nigerian stock market has closed the week on a bullish rally, as investors gained N1.383 trillion on sustained investors interest in blue-chip stocks.

The market capitalisation rose by 0.90 per cent, or N1.383 trillion, from N154.442 trillion to N155.825 trillion.

Similarly, the All Share Index (ASI) increased from 239,156.09 to 241,298.47, representing a gain of 2,142.38 points or 0.90 per cent.

The uptrend was driven by gains in stocks like: Seplat Energy, Transcorp Hotels, Omatek Ventures, Daar Communications, University Press and 27 other stocks.

As a result, the market’s Year-to-Date return strengthened to 55.06 per cent.

Market breadth also closed positively, with 33 gainers and 19 losers.

Seplat Energy led the gainers’ chart by 10 per cent, closing at N12,320.60 per share.

Transcorp Hotels followed with a gain of 9.76 per cent, settling at N265.50, while Omatek Ventures rose by 9.49 per cent to N1.50 per share.

Daar Communications also gained 9.42 per cent to close at N1.51, while University Press appreciated by 8.57 per cent to N5.70 per share.

Conversely, Total led the losers’ chart by 10 per cent, closing at N576 per share.

Haldane McCall followed with a loss of 8.78 per cent to close at N3.74, while Etranzact declined by 8.62 per cent to N13.25 per share.

Similarly, Austinlaz dipped by 7.41 per cent to N2.50, while AVA Capital fell by 7.14 per cent to N6.50 per share.

A total of 605.17 million shares worth N29.87 billion were traded in 38,421 deals, compared with 499.96 million shares valued at N35.15 billion exchanged in 40,323 transactions on Thursday.

The figures indicated increased market activity, as the total volume of shares traded rose by 21.04 per cent.

Jaiz Bank recorded the highest trading volume with 210.71 million shares, accounting for 34.82 per cent of the day’s total volume.

Transcorp Hotels led in value with N6.00 billion, representing 20.08 per cent of the total value traded.
NAN