Local equity sustains growth, gains N203bn




The bullish momentum in the Nigerian equities market sustained on Thursday following renewed interest in Nigerian Breweries, Airtel Africa Plc, forcing the market to appreciate by N203 billion.
Specifically, the market capitalization of listed equities increased by N203 billion or 0.80 per cent to N25.384 trillion from N25.181 trillion reported the previous day.

The NGX All Share Index also appreciated by 372.57 basis points, representing a gain of 0.80 per cent to close at 46604.94 points from 46232.37 points traded the previous day.


The growth profile was sustained by gains recorded in medium and large capitalised stocks, amongst which are Nigerian Breweries Airtel, BUAfood, ETI among others.
As measured by market breadth, market sentiment was negative with 11 gainers in relative to 32 losers.


Nestle Nigeria Plc topped losers chart during the day, dropping by 10.00 per cent to N1071.00, Redstarex trailed with a loss of 10.0 per cent to N2.07, CWG fell by 9.09 per cent to N0.80, Wapco dipped by 6.22 per cent to N21.10 while International Breweries added 5.38 per cent to N4.40.

On the contrary, Mansard led gainers table during the day appreciating by 8.57 per cent to N1.90, Nigerian Breweries followed with a gain of 6.79 per cent to N48.00, Ecobank Transnational Incorporated added 6.50 per cent to N1065.00, Airtel Africa gained 6.30 per cent to N1350, BUAfood increased by 6.11 per cent to N63.40.
The result further showed that Sterling Bank was the toast of investors during the day, exchanging 24.248 million shares valued at N34.937 million, Transnational Corporation of Nigeria followed with account of 21.791 million shares worth N25.732 million, Ecobank Transnational Incorporated traded 10.552 million shares cost N107.579 million, AccessCorp traded 8.614 million shares valued at N73.882 million while Jaiz Bank exchanged 7.742 million shares worth N6.664 million

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