By Bukola Idowu
The Nigerian equities market, yesterday gained 0.09 per cent to consolidate the marginal gain recorded the previous day into the second day in a row.
In summary, lead indicator, the All-Share Index (ASI) gained 23.45 absolute points, representing a growth of 0.09 per cent to close at 25,265.08 points. Meanwhile, the market capitalization gained N2 billion, representing a growth of 0.03 per cent to close at N8.691 trillion.
The difference in growth recorded by the two basic indicators was due to delisting of six companies from the daily official list of the Exchange, yesterday. The Companies are Lennards, P.S Mandrides & Company, Premier Breweries, Costain, Navitus Energy and Nigerian Ropes.
Analysts noted that attractive prices of some value stocks have triggered bargain hunting in yesterday trading as they broadly expect this to continue in today’s session.
Market breadth improved and closed positive with 15 gainers and 14 losers. Mobil led the gainers table by 10.25 per cent to close at N294 per share. Forte Oil gained 10.22 per cent to close at N59.20 and Portland Paint appreciated by 9.27 per cent to close at N1.65 per share.
Also, Okomu Oil went up by five per cent to close at N38.01 and Oando rose by 4.75 per cent to close at N3.97 per share.
On the other hand, Nahco led the laggards’ table by 4.92 per cent to close at N2.32 per share. CCNN trailed with a loss of 4.91 per cent to close at N4.26, while UAC Property declined by 4.70 per cent to close at N2.23 per share.
Also, Neimeth declined by 4.17 per cent to close at 69 kobo, while Wapic Insurance shed by 3.85 per cent to close at 50 kobo per share.
The total volume traded surged by 86.9 per cent to 773.87 million shares, valued at N1.91 billion, and traded in 2,334 deals.