Stock market gains N32bn

Trading on the floor of the Nigerian Stock Exchange (NSE) continued on the upbeat yesterday, as the bulls sustained their grip on the market activities for the fourth trading day. The key market performance measures, the NSE All Share Index and market capitalisation, rose by 0.29 per cent as market sentiments extended gaining streaks following investors’ sustained optimism. Consequently, the All-Share Index gained 91.98 basis points or 0.29 per cent to close at 31.495.73 as against 31,403.75 recorded the previous day, while the market capitalisation of equities appreciated by N32 billion or 0.29 per cent to close at N10.795 trillion from N10.763 trillion.

Meanwhile, a turnover of 532.2 million shares worth N5.3 billion in 4,402 deals was recorded in the day’s trading. Banking services sub-sector of the financial services sector was the most active (measured by turnover volume) with 202.5 million shares worth N2.8 billion exchanged by investors in 1,435 deals. Volume in the sub-sector was largely driven by activities in the shares of GTB Plc and Zenith Bank Plc.

Insurance services sub-sector also of the financial services sector, boosted by activities in the shares of Continental Insurance Plc, followed with a turnover of 186,03 million shares valued at N149.3 million in 87 deals.

The number of gainers at the close of trading session was 19, while decliners closed at 28. PZ Cussons Plc led the gainers’ table with a gain of 10 per cent to close at N33.00 per share, while Transcorp Plc followed with a gain of 9.76 per cent each to close at N2.70 per share.

Evans Medical Plc added 9.52 per cent to close at 69 kobo per share. On the other hand, Flour Mills Nigeria Plc led the price losers’ table, dropping 4.99 per cent to close at N30.84 per share. Premier Breweries Plc followed with 4.91 per cent each to close at N3.10 per share, while Honeywell Nigeria Plc trailed with a loss of 4.73 per cent to close at N2.62 per share.