The Nigerian stock market yesterday extended the bullish run as capitalisation gained N253 billion on investors’ interest in Airtel Africa Plc and 14 others. The All Share Index (ASI) rose by 465.34 absolute points, representing a gain of 1.07 percent to close at 43,942.82 points. Accordingly, investors gained N253 billion in value as market capitalisation went up to N23.934 trillion.
The upturn was impacted by gains recorded in medium and large capitalized stocks, amongst which are; Dangote Cement, Airtel Africa, MRS Nigeria Oil, Nigerian Exchange Group (NGX Group) and Nigerian Aviation Handling Company (NAHCO).
GTI Securities Limited stated that “we expect mixed sentiments to continue during week, as pre-election risks amplify.” However, market breadth remained slightly negative as 15 stocks posted gains while 16 stocks posted declines. MRS Nigeria Oil recorded the highest price gain of 9.83 percent to close at N12.85, per share. Courteville Business Solutions followed with a gain 8.70 percent to close at 50 kobo, while Unity Bank rose by 8.33 percent to close at 52 kobo, per share.
Dangote Cement went up by 7.77 per cent to close at N238.50, while Mutual Benefits Assurance appreciated by 3.70 percent to close at 28 kobo, per share. On the other hand, Julius Berger Nigeria led the losers’ chart by 9.81 percent to close at N21.15, per share. Cadbury Nigeria followed with a decline of 9.69 percent to close at N10.25, while Prestige Assurance went down by 9.52 to close at 38 kobo, per share.
Multiverse Mining & Exploration lost 9.41 percent to close at N3.85, while Wapic Insurance shed 5.71 percent to close at 33 kobo, per share.
Meanwhile, the total volume traded rose by 203.59 percent to 405.005 million shares, worth N3.097 billion, and traded in 3,188 deals. Transactions in the shares of Sterling Bank topped the activity chart with 171.155 million shares valued at N231.1.292 billion. Access Holdings followed with 78.765 million shares worth N634.062 million, while Transnational Corporation of Nigeria (Transcorp) traded 36.764 million shares valued at N38.611 million.
Guaranty Trust Holding Company (GTCO) traded 23.878 million shares valued at N420.269 million, while Zenith Bank transacted 17.170 million shares worth N343.120 million.
