Local equity sustains bull run, gains N41bn



Investment in the domestic equity market yesterday sustained a growth trend, gaining N41 billion as impressive earnings and high payout dividend from corporate actions continued to hit the market.

Operators are of the view that the market will maintain a positive trend as all eyes are still waiting other dividend paying stocks to release their corporate actions for the 2021 financial year.

Meanwhile, market capitalisation of listed equities increased by 0.16 per cent to N25.526 trillion from N25.485 trillion reported the previous day.

The NGX All Share Index also appreciated by 76.89 basis points to 47363.98 points from 47287.09 points reported on Wednesday.

Investors traded 261.558 million shares valued at N4.477 billion in 4672 deals against 336.305 millions shares cost N5.860 billion exchanged hands the previous day in 5248 deals.

An analysis of the transactions showed that RTBriscoe led gainers table during the day, increasing 9.84 per cent to N0.67, UACN followed with a gain of 9.84 per cent to N10.05, Oando Plc gained 8.83 per cent to N5.30, Presco Plc added 8.74 per cent to N125.00, Neimeth international Pharmaceutical gree by 7.27 per cent to N1.77.

On the contrary, Royal Exchanged topped losers chart, dropping by 9.46 per cent to N1.34, ABC Transport trailed with a loss of 8.57 per cent to N0.32, May & Baker Nigeria Plc fell by 6.31 per cent to N4.60, Transnational Corporation of Nigeria dipped by 5.22 per cent to N1.09, Courtvellle Business Solutions down by 4.92 per cent to N0.58.

The result further showed that Cutix Plc was the toast of investors during the day, accounting for 31.794 million shares valued at N75.684 million, Access Bank followed with account of 15.354 million shares worth N15.551 million, FCMB group exchanged 15.125 million shares cost N50.991 million, Fidelity Bank traded 14.924 million shares valued at N44.084 million, Zenith Bank sold a total of 14.314 million shares worth N379.823 million.