Equities market yesterday reversed its 11- day consecutive trading day losses, which translated to year-to-date loss of about 9.94 per cent, to close the days’ business with a gain of N51billion.
The twin market performance measures, the NSE ASI and market capitalisation, firmed up by 0.25 per cent on the back of blue chip companies. The market had last Wednesday closed on the downward trend, as sell pressure dominated the market. At the close of trading, 20 stocks appreciated, while 29 others constituted the losers’ table.
The twin market indicators, the All-Share Index rose by 77.48 basis points or 0.25 per cent from 30,970.51 to close at 31,047.99, while the market capitalisation appreciated by N51 billion from N10.579 trillion to N10.627 trillion.
Further analysis of the day’s trading showed that ETI Plc topped the day’s gainers’ table with 8.16 per cent to close at N22.00 per share, while Access Bank Plc followed with 4.79 per cent to close at N5.03 per share.
Unity Bank Plc gained 4.72 per cent to close at N2.44 per share. On the flip side, CCNN Plc led the losers’ chart with a drop of 9.39 per cent to close at N10.42 per share, while Transcorp Nigeria Plc shed 9.02 per cent to close at N1.11 per share. FCMB Plc dropped by five per cent to close at N2.85 per share.
On the activity chart, the banking sub-sector dominated in volume terms with 92.5 million shares worth N862.4 million in 1,312 deals. The sub-sector was enhanced by the activities in the shares of Fidelity Bank Plc and GTB Plc.
Other financial services sector boosted by the activities on the shares of FBNH Plc followed with 33.2 million units worth N175.6 million in 600 deals. In all, investors exchanged a total of 222.2 million shares worth N2.8 billion in 3,696 deals.
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