The Nigerian equities market yesterday sustained its upward momentum with a gain of N880 billion as the market capitalisation hits of N114.4 trillion.

The all-share index (ASI) gained by 1,375.11 points, representing a growth of 0.78 per cent to close at 178,184.54 points. Accordingly, market capitalisation rose by N880 billion to close at N114.377 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Nestle Nigeria, Julius Berger, Transcorp Hotels, CAP and MTN Nigeria Communications (MTNN).

Market sentiment was positive, with 48 gainers outpacing 31 losers. Meyer, Nestle Nigeria, Fortis Global Insurance and Consolidated Hallmark Insurance recorded the highest price gain of 10 per cent each to close at N20.90, N2, 420, 33 kobo and N4.95 kobo respectively.

Zichis Agro Allied Industry and CAP followed with a gain of 9.98 per cent each to close at N8.93 and N99.20 respectively, while Tantalizers rose by 9.96 per cent to close at N5.85 kobo.

On the other hand, Honeywell Flour Mills led the losers’ chart by 9.70 per cent to close at N22.80 kobo. Neimeth International Pharmaceuticals followed with a decline of 9.15 per cent to close at N12.90, while The Initiates Plc (TIP) declined by 5.81 per cent to close at N19.45 kobo.

R.T Briscoe Nigeria depreciated by 5.7 per cent to close at N14.40 and Sterling Financial Holdings Company declined by 5.56 per cent to close at N7.65 kobo.

Trading across sectors closed on a mixed note as oil & gas stocks topped the index with a 3.88 per cent jump, emerging as the top gainer. Commodity index followed with a 2.75 per cent rise, while insurance advanced by 1.08 per cent. Industrial and consumer goods sectors also recorded modest gains of 0.50 per cent and 0.48 per cent respectively.

In contrast, banking stocks slipped by 0.98 per cent to close the session in the red.

Meanwhile, the total volume traded fell by 27.92 per cent to 939.159 million units, valued at N34.032 billion, and exchanged in 61,279 deals. Transactions in the shares of Tantalizers topped the activity chart with 85.323 million shares valued at N498.746 million.

Access Holdings followed with 61.364 million shares worth N1.479 billion, while Chams Holding Company traded 38.598 million shares valued at N174.096 million.

Japaul Gold & Ventures traded 38.242 million shares valued at N89.511 million, while DEAP Capital Management & Trust sold 36.793 million shares worth N314.118 million.