Bulls Prevail On Equities Market As Capitalisation Hits N96trn

The Nigerian equities marketplace closed yesterday’s trading league connected a affirmative note, arsenic buying involvement successful BUA Foods Plc and 27 others pushed the wide capitalisation to transverse N96 trillion.

The All-Share Index (ASI) gained 1,516.10 points, representing a summation of 1.01 per cent to adjacent astatine 151,456.91 points. Also, marketplace capitalisation roseate by N962 cardinal to adjacent astatine N96.134 trillion.

The upturn was driven by terms appreciation successful ample and medium-capitalised stocks, including BUA Foods, Aradel Holdings, Vitafoam Nigeria, Cadbury Nigeria, and Lafarge Africa.

On marketplace outlook, Afrinvest Limited said, “We expect the bullish show to beryllium sustained, underpinned by bargain hunting activities.”

However, capitalist sentiment, arsenic measured by marketplace breadth, closed antagonistic arsenic 28 stocks advanced, portion 30 declined. SCOA Nigeria emerged the highest terms gainer, with a summation of 7.74 per cent to adjacent astatine N7.10 per share.

Omatek Ventures followed with a summation of 7.48 per cent to adjacent astatine N1.58, portion Consolidated Hallmark Insurance precocious by 6.70 per cent to adjacent astatine N4.78 per share.

BUA Foods roseate 6.54 per cent to adjacent astatine N692.50, portion Vitafoam Nigeria appreciated 5.92 per cent to adjacent astatine N94.00 per share.

On the different hand, LivingTrust Mortgage Bank led others connected the losers’ illustration with 9.91 per cent to adjacent astatine N4.00 per share. Conoil followed with a diminution of 5.83 per cent to adjacent astatine N190.70, portion Africa Prudential shed 5.69 per cent to adjacent astatine N14.10 per share.

Sovereign Trust Insurance mislaid 3.95 per cent to adjacent astatine N3.65, portion NPF Microfinance Bank depreciated by 3.75 per cent to adjacent astatine N3.08 per share.

The full measurement traded accrued by 34.96 per cent to 551.925 cardinal units, valued astatine N20.537 billion, and exchanged successful 27,518 deals. Transactions successful the shares of Fidelity Bank led the enactment with 59.117 cardinal shares worthy N1.179 billion. VFD Group followed with 39.309 cardinal shares valued astatine N424.663 million, portion Japaul Gold & Ventures traded 37.742 cardinal shares valued astatine N94.941 million.

Access Holdings traded 37.364 cardinal shares worthy N950.063 million, portion Guaranty Trust Holding Company (GTCO) traded 31.363 cardinal shares worthy N2.918 billion.