Opening the holiday shortened week, yesterday, the Nigerian equities market resumed trading on a positive trend as the market capitalisation hit N27 trillion.
The All Share Index (ASI) rose by 487.47 points, representing an increase of 0.98 per cent to close at 50,126.41 points. While the overall market capitalisation value gained N263 billion to close at N27.024 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Okomu Oil, Presco, Guinness Nigeria, BUA Cement and Nigerian Breweries.
Market sentiment, as measured by market breadth closed positive as 31 stocks gained, relative to 27 losers.
Okomu Oil and Wema Bank recorded the highest price gain of 10 per cent each to close at N161.70 and N3.85 respectively, per share. Nigerian Breweries followed with a gain 9.98 per cent to close at N62.80, while Eterna and Presco appreciated by 9.97 per cent each to close at N6.62 and N157.70 respectively, per share.
On the other hand, Oando led the losers’ chart by 10 per cent to close at N5.67, per share. Trans-Nationwide Express followed with a decline of 9.88 per cent to close at 73 kobo, while AXA Mansard Insurance depreciated by 7.79 per cent to close at N2.25 per share.
Ikeja Hotel declined by 7.14 per cent to close at N1.30, while Cutix depreciated by 6.15 per cent to close at N2.29, per share.
However, the total volume of trades decreased by 89.55 per cent to 669.299 million units, valued at
N5.989 billion, and exchanged in 7251 deals.
