The Nigerian stock market, closed higher as the capitalisation gained N6 billion.
Consequently, the All Share Index (ASI) rose by 11.35 absolute points, representing a gain of 0.02 per cent to close at 54,507.66 points. Accordingly, investors gained N6 billion in value as market capitalisation went up to N29.689 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Lafarge Africa, Nigerian Aviation Handling Company (NAHCO), Tripple Gee & Company, Africa Prudential and Geregu Power.
Market breadth closed positive as 20 stocks posted gains while 16 stocks posted declines. Tripple Gee & Company recorded the highest price gain of 10 per cent to close at N1.65, per share. Linkage Assurance followed with a gain of 7.14 per cent to close at 45 kobo, while Consolidated Hallmark Insurance up by 4.62 per cent to close at 68 kobo, per share.
Ikeja Hotel rose by 4.00 per cent to close at N1.04, while FTN Cocoa processors appreciated by 3.57 per cent to close at 29 kobo, per share. On the other hand, Japaul Gold & Ventures and Sovereign Trust Insurance led the losers’ chart by 10 per cent each to close at 28 kobo each, while NASCON Allied Industries followed with a decline of 3.57 per cent to close at N10.80, per share.
Chams Holding Company lost 3.45 per cent to close at 28 kobo, while FCMB Group shed 3.28 per cent to close at N4.45, per share.
The total volume traded declined by 24.43 per cent to 134.460 million shares, worth N4.355 billion, and traded in 2,905 deals. Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 42.348 million shares valued at N1.065 billion. United Bank for Africa (UBA) followed with 13.105 million shares worth N109.901 million, while AIICO Insurance traded 6.662 million shares valued at N3.960 million.
FBN Holdings (FBNH) traded 6.345 million shares valued at N73.976 million, while Access Holdings transacted 5.504 million shares worth N50.853 million.