Stock Market Advances With N5bn Gain

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The bulls maintained their grip the market activities, following gains recorded majorly by blue-chip stocks as investors positioned leverage undervalued stocks.

The key market measures, the All Share Index and market capitalisation rose by 0.03 per cent as market sentiments extended, gaining streaks the second day following investors’ sustained optimism.

The market breadth closed positive 12 gainers against 11 losers.

Consequently, the All-Share Index rose by 8.41 basis points or 0.03 per cent close at 30.741.88 index points as against 30.733.47 recorded the previous day.

Market capitalisation equities appreciated by N5bn to close higher at N16.07tn N16.06tn as market sentiment remained in the green territory.

Meanwhile, a turnover 286.45 shares in 2,889 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); 191.27 shares exchanged by investors in 1,103 deals.

Volume in the sub-sector was driven by activities in the shares Zenith Bank Plc and Plc.

The banking sub-sector boosted by the activities in the shares of GTB Plc and Fidelity Bank Plc followed a turnover of 18.95 shares in 434 deals.

Further analysis of the day’s trading showed that CHI Plc topped the gainers’ table with 8.82 per cent to close at 37 kobo per share while Prestige Assurance Plc followed with 7.41 per cent to close at 58 kobo per share and FCMB Plc with a gain of 5.17 per cent to close at N3.05 per share.

the flip side, Mutual Benefits Assurance Plc led the losers’ chart with a drop of 4.76 per cent to close at 20 kobo per share.

Wema Bank Plc followed with a loss of 3.13 per cent to close at 62 kobo per share, while Julius Berger Plc dropped by 2.57 per cent to close at 7.05 per share.