- Advertisement -spot_img
28.2 C
HomeBusinessNigeria equity market advances N271 bln as firms release earnings result

Nigeria equity market advances N271 bln as firms release earnings result

- Advertisement -spot_img

By Ifeyinwa Ezeokoli 


The domestic equities market on Thursday advanced by N271 billion, as investors continue to digit a flurry of full year corporate earnings released on the Nigerian Exchange Limited (NGX).

Also, positive trading persisted in the domestic bourse as bargain buying in MTNN (+3.9%) and Seplat (+9.5%) spurred a 0.93 percent gain in the All-Share Index to 53,998.12 points. 

Consequently, the month-to-date and year-to-date returns advanced to +1.4% and +5.4%, respectively.

Accordingly, investors gained N271 billion in value as market capitalisation went up to N29.411 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Seplat Energy, Geregu Power, MTN Nigeria Communications (MTNN), MRS Oil Nigeria and Nigerian Exchange Group (NGXGroup).

Analysts at GTI Securities Limited said “we expect positive sentiment to be sustained as investors continue to pile into defensive and financial stocks.”

The market breadth closed positive with 27 gainers against  13 losers.

MRS topped the gainers’ chart in percentage terms with 10 percent to close at N17.60 per share. 

READ ALSO: New Naira swap: Fidelity Bank assures customers of cash payment

Northern Nigeria Flour Mills followed with 9.88 percent to close at N8.90, while International Energy Insurance went up by 9.76 percent to close at 90k per share.

Seplat Energy rose by 9.50 percent to close at N1,325, while Cornerstone Insurance appreciated by 9.09 percent to close at 60k per share. 

On the other hand, SUNU Assurance led the losers’ chart in percentage terms by 8.11 percent to close at 34k per share. 

Mutual Benefits Assurance trailed with 7.69 percent to close at 36k, while Linkage Assurance went down by 6.25 to close at 45k per share. 

Veritas Kapital Assurance lost 4.76 percent to close at 20k, while PZ Cussons Nigeria shed 4.65 percent to close at N10.25 per share.

The total volume traded increased by 1,331.88 percent to 2.87 billion shares worth N8.07 billion traded in 3,940 deals. 

Transactions in the shares of Universal Insurance topped the activity chart with 2.72 billion shares valued at N543.21 million. 

AIICO Insurance followed with 13.99 million shares worth N9.17 million, while Guaranty Trust Holding Company traded 13.93 million shares valued at N349.87 million.

Sterling Bank sold 10.25 million shares valued at N17.02 million, while Fidelity Bank transacted 9.881 million shares worth N57.49 million.

Join Our Mailing List!

* indicates required
- Advertisement -spot_img
- Advertisement -spot_img
Must Read
Related News
- Advertisement -spot_img