Investors gain N54bn as equities sustain rally

Nigeria’s equities market furthered its upward movement on Thursday as buy-side activities on the Bourse strengthened.

The positive close came on the heels of savvy investors realising that the hitherto persistent sell-side sentiment creates opportunity to take positions in fundamentally sound counters ahead of the release of their first quarter (Q1) results in coming weeks.
At the close of trading session, listed equities value increased by about N54billion, from N20.286trillion recorded the preceding trading day to N20.340trillion.

The market’s benchmark performance indicator – All Share Index (ASI) closed on Thursday at 38,875.98 points, up by 0.26 percent from 38,774.03 points recorded the preceding trading day.

The record gain on Thursday decreased the year-to-date (Ytd) negative return to -3.46percent.

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CHI Plc led the gainers table after its share price moved from 31kobo to 34kobo, up by 3kobo or 9.68percent. Japaul Gold Plc also rallied from a low of 53kobo to 58kobo, up by 5kobo or 9.43percent.

Likewise, Oando Plc stock price rose from N3.1 to N3.26, adding 16kobo or 5.16percent.
AIICO moved from N1.2 to N1.26, up by 6kobo or 5 percent, while Zenith Bank share price moved from preceding day low of N21 to N21.85, up by 85kobo or 4.05percent.

In 3,442 deals, investors exchanged 140,050,950 shares valued at N1.463billion. FBN Holdings, GTBank, Zenith Bank, Access Bank and Japaul Gold were most traded stocks on the Bourse.