Investors gain N171bn as bullish sentiment persists

The equities market on Thursday sustained its positive trend, with investors gaining N171 billion.

Gains in PZ Cussons Nigeria, Eterna, Champion Breweries, Tantalizer, AIICO Insurance and 29 other stocks pulled the market performance up.

Specifically, the market capitalisation, which opened at N90.580 trillion, gained N171 billion or 0.19 per cent to settle at N90.751 trillion.

In the same vein, All-Share Index also rose by 0.19 per cent or 268.98 points, to close at 142,979.46, against 142,710.48 posted on Tuesday.

Also, the market breadth closed positive with 34 gainers and 26 losers on the floor of the Exchange.

PZ Cussons Nigeria led the gainers’ table by 10 per cent, ending the session at N37.95, Eterna trailed by 9.94 per cent finishing at N37.05 while Champion Breweries gained by 9.82 per cent, closing at N15.10 per share.

Tantalizer grew by 5.96 per cent, settling at N2.49 and AIICO Insurance rose by 5.43 per cent, closing at N3.69 per share.

On the flip side, RT Briscoe led the losers’ table by 9.89 per cent, settling at N3.37 while Thomas Wyatt Nigeria dipped by 9.82 per cent, finishing at N3.58 per share.

Sovereign Trust Insurance dropped by 9.33 per cent, closing at N2.72 and International Energy Insurance fell by 7.78 per cent, ending the session at N3.08 per share.

Similarly, Berger Paints declined by 7.18 per cent, closing at N36.20 per share.

Analysis of the market activity revealed overall increase in the market value, volume and deals, as 6.23 billion shares valued at N54.5 billion were exchanged across 32,682 transactions.

This is compared to 1.24 billion shares valued at N29.8 billion that was traded in 28,009 transactions earlier on Tuesday.

Meanwhile, Cornerstone Insurance topped the activity chart in volume and value with 5.45 billion shares valued at N25.1 billion.

United Bank for Africa followed with 152.14 million shares worth N6.5 billion while Wema Bank sold 152.05 million shares valued at N2.52 billion.

First HoldCo transacted 111.79 million shares worth N3.49 million and Zenith Bank traded 47.1 million shares valued at N3.27 billion.