The bulls sustained hold on the equities sector of the Nigerian Exchange Limited (NGX) as santa clause rally deepened yesterday, causing market capitalisation to rise further by N579 billion.

The all-share index (ASI) gained by 895.07 points, representing a growth of 0.59 per cent to close at 153,354.14 points. Also, market capitalisation gained N579 billion or 0.6 per cent to close at N97.772 trillion.

Also, the market witnessed the listing of 7.62 million units of Chams Holding Company shares, causing a 0.01 per cent discrepancy in the ASI and market cap percentage increase.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are BUA Foods, Eunisell Interlinked, MeCure Industries, First HoldCo and Nigerian Exchange Group.

On market outlook, Imperial Asset Managers Limited said: “at the equity market session today, Near-term sentiment remains cautiously optimistic, supported by strong YTD performance and sustained interest in fundamentally sound, liquid stocks. However, trading activity may remain selective and range-bound as investors’ position ahead of year-end portfolio rebalancing.”

Market breadth was positive with 29 gainers surpassing 27 losers. Aluminium Extrusion Industries recorded the highest price gain of 9.96 per cent to close at N14.90 kobo. Austin Laz & Company followed with a gain of 9.81 per cent to close at N2.91 kobo, while Custodian Investment increased by 9.69 per cent to close at N38.50 kobo.

First HoldCo rose by 9.35 per cent to close at N50.30, while FTN Cocoa Processors up by 8.74 per cent to close at N5.10 kobo.

On the other hand, Royal Exchange led the losers’ chart by 7.22 per cent to close at N1.80 kobo. Champion Breweries followed with a decline of 6.57 per cent to close at N15.65, while NASCON Allied Industries declined by 5.36 per cent to close at N105.05 kobo.

Sovereign Trust Insurance depreciated by 5.28 per cent to close at N3.77 kobo, while Japaul Gold & Ventures declined by 4.51 per cent to close at N2.33 kobo.

The total volume traded rose by 50.03 per cent to 677.433 million units, valued at N20.784 billion, and exchanged in 27,589 deals. Transactions in the shares of VFD Group topped the activity chart with 191.972 million shares valued at N2.073 billion. Guaranty Trust Holding Company (GTCO) followed with 63.45 million shares worth N5.59 billion, while Access Holdings traded 49.774 million shares valued at N1.022 billion.

First HoldCo traded 45.81 million shares valued at N2.247 billion, while Secure Electronic Technology sold 39.332 million shares worth N28.352 million.