The bulls have maintained their grip on market activities, as bargain hunters jostled for shares of blue chip companies. Investors saw the opportunity to take position in the market, as they took advantage of the fact that most of the stock prices are low.
The key market performance measures, the NSE All Share Index and market capitalisation, rose by 0.39 per cent, as market sentiments extended gaining streaks following investors’ sustained optimism.
Consequently, the All-Share Index gained 109.32 basis points or 0.39 per cent to close at 28,034.32 as against 27,925.00 recorded the previous day, while the market capitalisation of equities appreciated by N31 billion or 0.39 per cent to close at N9.629 trillion from N9.591 trillion as market sentiment remained on the green zone. Meanwhile, a turnover of 234.2 million shares exchanged in 3.335 deals was recorded in the day’s trading.
Banking services subsector of the financial services sector was the most active (measured by turnover volume); with 129.4 million shares exchanged by investors in 1.044 deals. Volume in the sub-sector was largely driven by activities in the shares of UBA Plc and GTB Plc. Premium sub-sector, boosted by activities in the shares of FBNH Plc and Zenith Bank Plc, followed with a turnover of 26.6 million shares in 592 deals.
The number of gainers at the close of trading session was 13, while decliners closed at 21. Seplat Petroleum Plc led the gainers’ table with a gain of five per cent to close at N367.51 per share, while Vitafoam Plc followed with a gain of 4.91 per cent to close at N2.78 per share.
Livestock Feeds Plc added 4.88 per cent to close at 86 kobo per share. On the other hand, Fidson Healthcare Plc led the price losers’ table, dropping 4.82 per cent to close at N1.58 per share. Guinness Nigeria Plc followed with 4.80 per cent to close at N76.00 per share, while Niemeth Nigeria Plc trailed with a loss of 4.65 per cent to close at 82 kobo per share.