ASI rose by 2,954.14 points, representing a gain of three per cent, to close at 101,571.11 points. Similarly, the overall market capitalisation value gained N1.617 trillion to close at N55.584 trillion.
Year-to-date, the domestic market has returned 35.84 per cent surpassing inflationary levels in the country and outperforming other indices in the African, European and Middle Eastern markets as tracked by Bloomberg. Total value of stocks traded by investors was N8.04 trillion, a 51 per cent drop from the value traded in the previous day.
“On what will shape the market in the next trading session, analyst at Vetiva Dealings and Brokerage said: We expect another positive market breadth tomorrow, while sector performance remain mixed.”
The market positive performance yesterday was driven by price appreciation in large and medium capitalised stocks which are; Dangote Cement, BUA Cement, BUA Foods, NASCON Allied Industries and Flour Mills of Nigeria.
Investor sentiment, as measured by market breadth closed positive as 35 stocks gained, while 32 lost. Wapic Insurance recorded the highest price gain of 10 per cent to close at 88 kobo, per share. BUA Cement followed with a gain of 9.98 per cent to close at N179.65, while Japaul Gold & Ventures rose by 9.91 per cent to close at N2.55 kobo.
University Press appreciated by 9.82 per cent to close at N3.69 kobo, while Tripple Gee & Company rose by 9.69 per cent to close at N2.83 kobo.
On the other hand, NEM Insurance led the losers’ chart by 10 per cent to close at N7.20 kobo.
Cadbury Nigeria followed with a decline of 9.96 per cent to close at N23.50 kobo, while The Initiates Plc (TIP) declined by 9.92 per cent to close at N2.27 kobo.
May & Baker Nigeria shed 9.89 per cent to close at N6.65 kobo, while McNichols lost 9.88 per cent to close at N1.46 kobo.
However, the total volume of trade decreased by 34.65 per cent to 488.491 million units, valued at N8.037 billion, and exchanged in 12,080 deals.
Transactions in the shares of Transnational Corporation (Transcorp) topped the activity chart with 95.109 million shares valued at N1.588 billion. Universal Insurance followed with 45.629 million shares worth N18.601 million, while Unity Bank traded 27.343 million shares valued at N74.12 million.
Jaiz Bank traded 26.962 million shares valued at N76.917 million, while Japaul Gold & Ventures transacted 25.324 million shares worth N64.312 million.
