Equity market closes higher, gains N325bn

Investment in the nation’s equity market Thursday continued in positive trend, appreciating by N325 billion.

Specifically, market capitalisation of listed equities increased by 1.54 per cent to N21.418 trillion from N21.093 trillion traded on Wednesday.

The NSE All Share Index also appreciated by 622.09 basis points to 40963.14 points from 40341.05 points traded the previous day.

Investors traded 809.362 million shares valued at N8.905 billion in 6706 deals against 468.146 million shares worth N6.963 billion in 5697 deals.

A review of the trading activities showed that Seplat Petroleum Development led gainers table during the day appreciating by N43.50 kobo to close at N540.00, Dangote Cement industry Plc followed with a gain of N7.00 to close at N237.00, MTN Nigeria Communication gained N3.00 to close at N168.00, Ardova Plc up by N1.85 kobo to close at N21.85 kobo, Nascon added N1.55 kobo to close at N17.50 kobo.

Conversely, Neimeith International Pharmaceutical topped losers chart dropping by N0.14 kobo to close at N2.06 kobo, Guinness Nigeria Plc trailed with a loss of N0.05 kobo to close at N18.85 kobo, Nahco fell by N0.04 kobo to close at N2.25 kobo, Courtevilla declined by N0.02 kobo to close at N0.22 kobo, Jaiz Bank Plc fell by N0.02 kobo to close at N0.70 kobo.

The result further showed that Transnational Corporation of Nigeria was the most active stock during the day, exchanging 136.578 million shares cost N130.187 million, Mutual Benefits Insurance followed with account of 70.590 million shares valued at N27.389 million, Guaranty Trust Bank traded 68.993 million shares cost N2.251 billion, Wapco exchanged 61.851 million shares cost N1.423 billion, FBNHoldings sold a total of 44.533 million shares cost N329.473 million.

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