Bulls Sustain Dominance On Stock Market With N389bn Gain

The Nigerian banal marketplace yesterday closed connected a bullish enactment with a summation of N389 billion, demonstrating sustained capitalist optimism successful marketplace fundamentals.

The All Share Index (ASI) gained by 612.81 points, representing a maturation of 0.41 per cent to adjacent astatine 148,355.04 points. Also, marketplace capitalisation gained N389 cardinal to adjacent astatine N 94.165 trillion.
The upturn was impacted by gains recorded successful mean and ample capitalised stocks, amongst which are; Nestle Nigeria, Dangote Cement, Aradel Holdings, Lafarge Africa and PZ Cussons Nigeria.

On marketplace outlook, Afrinvest Limited stated that “we expect the marketplace volition widen its fifteen-day gaining streak tomorrow, arsenic the caller inclination of sustained disinflation continues to bolster capitalist sentiment and enactment upward revaluation of equities.”

Market sentiment closed positive, with 30 gainers outpacing 25 decliners.

Secure Electronic Technology recorded the highest terms summation of 7.06 per cent to adjacent astatine N91 kobo, per share. Sterling Financial Holdings Company followed with a summation of 6.49 per cent to adjacent astatine N8.20, portion Livestock Feeds up by 5.33 per cent to adjacent astatine N7.90, per share.

The Initiates Plc (TIP) accrued by 5.18 per cent to adjacent astatine N14.00, portion May & Baker Nigeria up by 4.99 per cent to adjacent astatine N17.90, per share.

On the different hand, SUNU Assurance led the losers’ illustration by 9.71 per cent to adjacent astatine N5.21, per share. Haldane McCall followed with a diminution of 7.53 per cent to adjacent astatine N4.05, portion DAAR Communications declined by 6.36 per cent to adjacent astatine N1.03, per share.

Sovereign Trust Insurance depreciated by 6.05 per cent to adjacent astatine N3.26, portion Custodian Investment declined by 4.55 per cent to adjacent astatine N42.00, per share.

Also, the full measurement traded accrued by 11.13 per cent to 432.431 cardinal units, valued astatine N16.910 billion, and exchanged successful 23,665 deals. Transactions successful the shares of Consolidated Hallmark Holdings topped the enactment illustration with 40.952 cardinal shares valued astatine N196.585 million. Access Holdings followed with 40.343 cardinal shares worthy N1.042 billion, portion Guaranty Trust Holding Company (GTCO) traded 27.567 cardinal shares valued astatine N2.577 billion.

Zenith Bank traded 25.048 cardinal shares valued astatine N1.706 million, portion Tantalizers sold 22.234 cardinal shares worthy N51.096 million.