Equity Market Extends Gains By N63 Billion


The equity market opened the week on a positive note, gaining N63 billion, 0.24 per cent, as market capitalisation closed at N26.291 trillion on Monday, compared with N26.228 trillion recorded on Friday.

Also, the All-Share Index rose by 115.58 points or 0.24 per cent to close at 48,270.23 from 48,154.65 on Friday.

The market’s performance was primarily driven by gains in stocks of Nigerian Breweries and BUA Cement.

Consequently, the year-to-date (YTD) return rose to 12.96 per cent.

Market breadth closed positive as 15 stocks were on the leaders’ table, with 13 on laggards’ log.

Guiness led the gainers’ table with 10 per cent to close at N69.30 per share.

Eternal oil followed with a gain of 8.75 per cent to close at N6.44, while Royal Exchange grew by perr cent to close at 78k per share.

Linkage Assurance advanced by 7.50 per cent to close a 43k per share Presco gained by 6.64 per cent to close at N120.50 per share.

Conversely, Geregu led the laggards’ table, depreciating by 9.85 per cent to close at N110.70 per share.

Scoa Nigeria followed with a loss of 9.43 per cent to close at 96k, while Thomas Wyatt Nigeria declined by 9.09 per cent to close at 40k.

Also, LASSACO depreciated by 7.41 per cent to close at 25k per share. Chams fell by 4.49 per cent to close 85k.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 18.69 per cent.

A total of 633.74 million units of shares valued at N4.10 billion were exchanged in 3,398 deals. (NAN)