The equity market on Thursday continued its positive trends with investors’ net worth appreciating by ₦265 billion on bargain hunting.
The positive performance was due to investors’ buy interest in the stocks of Tier-one banks
The market capitalisation rose by ₦265 billion or 0.62 per cent to close at ₦42.694 trillion, as against ₦42.429 trillion recorded on Wednesday.
Consequently, the benchmark of the All-Share Index rose by 0.62 per cent or 482.97 points to close at 78,020.54 as against 77,537.57 recorded previous session.
The Year-to-Date (YTD) return rose to 4.34 per cent, as the value of transactions grew by 4.40 per cent.
Meanwhile, a total of 984.19 million shares valued at ₦11.16 billion were exchanged in 12,976 deals.
Accordingly, market breadth closed positive, as activities indicated that trade turnover settled higher relative to the previous session.
Investors buying interest in Tier-one banks namely, Zenith Bank, Guaranty Trust Company and Dangote Sugar are responsible for the improved performance.
However, FCMB led the volume chart with 106.81 million units traded while Fidelity Bank led the value chart with deals worth ₦1.31 billion.
On the gainer’s table, Wema Bank and LearnAfrica led in percentage terms of 10 per cent each to close at ₦6.71 and ₦3.19 per share, respectively.
Transcorp followed with a gain of 9.93 per cent to close at ₦11.51 per share.
Ikeja Hotel also gained 9.92 per cent to close at ₦7.58, while Sterling Nigeria increased by 9.83 per cent to close at ₦5.25 per share.
On the loser’s table, Multiverse Mining and Exploration led with a loss of 9.97 per cent to close at ₦20.22 per share.
It is followed by Meyer which lost 9.75 per cent to close at ₦3.24 per share.
TrippleG depreciated by 9.30 per cent to close at ₦1.95, while John Holt lost 8.62 per cent to close at ₦2.12 per share.
Also, ABC Transport was down by 8.25 per cent to close at 89k per share.