The Nigerian equities market sustained positive sentiments yesterday as the overall capitalisation surged by N787 billion, amid capital appreciation in Seplat Energy and 47 stocks.

As a result, the all-share index gained 1,238.74 points, representing a gain of 0.86 per cent to close at 144,822.78 points. Also, market capitalisation rose by N787 billion to close at N91.922 trillion.

The upturn was driven by price appreciation in large and medium capitalised stocks, amongst, which are Seplat Energy, MTN Nigeria Communications (MTNN), Nigerian Aviation Handling Company (NAHCO), Julius Berger Nigeria and Guaranty Trust Holding Company (GTCO).

On market outlook, United Capital Plc said, “The Nigerian equity market could sustain its bullish momentum on the backs of strong buy interest, positive earnings expectations, and the anticipated Financial Action Task Force (FATF) grey list exit.”

Market sentiment was decisively positive, with 48 advancers overwhelming 23 decliners. AXA Mansard Insurance and Seplat Energy emerged the highest price gainer of 10 per cent each to close at N15.84 kobo and N5,917.20 kobo respectively, while Ellah Lakes followed with a gain of 9.95 per cent to close at N14.81 kobo.

Chams Holding Company appreciated by 9.87 per cent to close at N4.23 kobo while Omatek Ventures added 9.84 per cent to close at N1.34 kobo.

On the other side, International Energy Insurance led others on the losers’ chart with 8.42 per cent to close at N2.72 kobo.

McNichols followed with a decline of 8.31 per cent to close at N3.20 kobo, while Thomas Wyatt Nigeria shed 7.72 per cent to close at N2.99 kobo.

Berger Paints lost 6.8 per cent to close at N37, while Associated Bus Company depreciated by 5.81 per cent to close at N4.05 kobo.

The total volume traded increased by 194.37 per cent to 519.921 million units, valued at N14.457 billion, and exchanged in 35,490 deals.

Transactions in the shares of Ellah Lakes led the activity with 80.067 million shares worth N1.185 billion.
Chams Holding Company followed with an account of 30.213 million shares valued at N127.256 million.

Sterling Financial Holdings Company traded 24.743 million shares valued at N205.654 million. Custodian Investment traded 21.826 million shares worth N903.74 million, while GTCO traded 20.057 million shares worth N1.968 million.