Capitalisation rises further by N459 billion amid gains in 29 stocks

The bulls sustained a hold on the equities sector of the Nigerian Exchange Limited (NGX), as market capitalisation rose further by N459 billion, amid gains in MTN Nigeria and 28 stocks.

At the close of trading, yesterday, the All Share Index (ASI) gained 723.83 points, representing a growth of 0.50 per cent to close at 145,719.09 points. Also, market capitalisation gained N459 billion to close at
N92.490 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; MTN Nigeria Communications (MTNN), Aradel Holdings, Nigerian Aviation Handling Company (NAHCO), NASCON Allied Industries and Eterna.

However, market sentiment was negative, with 34 stocks declining against 29 gainers. FTN Cocoa Processors recorded the highest price gain of 8.89 per cent to close at N6.

Livestock Feeds followed with a gain of 7.43 per cent to close at N7.95 kobo, while Eterna up by 6.96 per cent to close at N41.50 kobo. Prestige Assurance appreciated by 4.94 per cent to close at N1.70, while Fidelity Bank rose by 4.74 per cent to close at N21.

On the other hand, Industrial and Medical Gases Nigeria led the losers’ chart by 9.97 per cent to close at N32.95 kobo. LivingTrust Mortgage Bank followed with a decline of 9.93 per cent to close at N5.35, while SUNU Assurance declined by 9.48 per cent to close at N5.25 kobo. Jaiz Bank depreciated by 7.53 per cent to close at N4.30, while Chams Holding Company declined by 6.28 per cent to close at N4.33 kobo.

Meanwhile, the total volume traded up by 3.61 per cent to 525.726 million units, valued at N13.613 billion, and exchanged in 25,597 deals. Transactions in the shares of Consolidated Hallmark Holdings topped the activity chart with 83.545 million shares valued at N351.032 million.

First Holdco followed with 36.538 million shares worth N1.133 billion, while Jaiz Bank traded 28.728 million shares valued at N125.558 million. Chams Holding Company traded 24.465 million shares valued at N106.699 million, while Ellah Lakes sold 21.367 million shares worth N300.231 million.