The capital market’s equities sector was further solidified by the bulls yesterday, as nearly all blue chip stocks had price increases that increased investors’ wealth by N1.83 billion.
The market capitalization of listed stocks grew by 3.94 percent to N48.139 trillion at the close of trades, from N46.316 trillion the day before. The all-share index, which gauges the performance of publicly traded stocks, increased by 3330.21 basis points to 87971.1 points from Monday’s trading level of 84640.89 points.
What Vetiva Dealing and Brokerage believes will influence the market in the upcoming trading session is as follows: “This year, the bulls have been the dominant force in the market. But following four days of strong success, we might expect some price corrections tomorrow as investors take their profits.”
Ten percent apiece was contributed by Dangote Sugar, Flour Mill Nigeria Plc, Sterling Bank, NASCON, International Breweries, and Berger Paint to close at N81.40, N45.10, 7.59, N71.50, N5.83, and N15.40 kobo.
However, Multiverse lagged with a loss of 6.59% to conclude at N17, while Royal Express led the losers’ table after falling 9.18% to close at 89 kobo.
C&I Leasing was down by 4.55% to close at N4.20 kobo, EllaLakes fell by 4.79 percent to close at N3.38 kobo, and Oando Plc fell by 3.2% to close at N12.10 kobo.
As investors traded 1.066 billion shares worth N15.767 billion in 14505 trades, the volume of activity increased by 258.493 million, or 32.11%. Trades in Jaiz Bank shares, totaling 147.637 million shares valued at N497.485 million, dominated market activity.
The FCMB group exchanged 61.073 million shares for N735.894 million, while AIICO Insurance came in second with an account of 98.495 million shares valued at N128.34 million. Transnational Corporation of Nigeria sold 48.666 million shares for N770.582 million, while Sterling Bank swapped 55.838 million shares valued at N417.077 million.
