Stock Market Gains N152bn to Maintain Positive Momentum 

Kayode Tokede

The domestic stock market yesterday sustained its positive trend for the third consecutive turn, with the overall market capitalisation appreciating  by N152 billion.

The Nigerian Exchange Limited All Share Index (NGX ASI) gained by 250.91 basis points or 0.25 per cent to close at 98,760.59 basis points. Also, market capitalisation gained N152 billion to close at N59.867 trillion.

However,  investor sentiment, as measured by market breadth was positive as 30 stocks advanced, while 21 declined. Conoil and Tantalizer recorded the highest price gain of 10 per cent each to close at N387.20 and N1.76 respectively, while Custodian Investment followed with a gain of 9.92 per cent to close at N13.85, per share.

Africa Prudential appreciated by 9.79 per cent to close at N15.70, while Golden Guinea Breweries up by 9.75 per cent to close at N7.88, per share.

On the other hand, DAAR Communications led the losers’ chart by 8.47 per cent to close at 54 kobo, per share. Caverton Offshore Support Group followed with a decline of 8.16 per cent to close at N1.805, while Omatek Venture declined by 7.46 per cent to close at 62 kobo, per share.

ABC Transport depreciated by 7.41 per cent to close at N1.25, while Consolidated Hallmark Holdings declined by 7.11 per cent to close at N2.22, per share.

Also, the total volume traded increased by53.0 per cent to 320.102 million units, valued at N6.478 billion, and exchanged in 7,943 deals. Transactions in the shares of FCMB Group topped the activity chart with 77.632 million shares valued at N698.663 million. eTranzact International followed with 70.130 million shares worth N473.408 million, while Haldane McCall traded 47.829 million shares valued at N234.317 million.

Japaul Gold & Ventures traded 33.575 million shares valued at N73.789 million, while Secure Electronic Technology sold 16.746 million shares worth N8.778 million.

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