Stocks gain N467bn as Santa-Claus rally persists on NGX

Nigeria’s equities market recorded another session of positive close on Thursday, rising by 0.77 percent as investors continued their season’s race for value ahead of year end.

Major advancers like UACN, Aradel Holdings, Honeywell Flour Mills, NAHCO and MRS spurred the market’s N467 billion gain. While stocks like Universal Insurance, AIICO, UBA, GTCO and Prestige Assurance were actively traded stocks on Thursday.

Further look at the top gainers list shows that UACN rose from N25 to N27.50, adding N2.50 or 10 percent. Aradel Holdings rose from N664 to N730.40, adding N66.40 or 10 percent.

Honeywell Flour Mills increased from preceding day’s low of N5 to N5.50, adding 50 kobo or 10 percent. NAHCO also increased from N38.15 to N41.95, adding N3.80 or 9.96 percent, while MRS increased from N159.70 to N175.60, adding N15.90 or 9.96 percent.

Read also: NGX-ASI crosses 100,000 points as Santa rally continues

Ahead of Thursday’s trading, analysts at Lagos-based Vetiva Research said they see no drivers on the horizon that would alter the prevailing sentiment in the market, noting that the market will post another green close.

In 10,260 deals, investors exchanged 411,374,218 shares worth N26.303billion.

This month, the market has risen by 3.84 percent, while this week, it has risen by 1.88 percent. This year’s return increased to 35.41 percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) increased further from preceding day’s low of 100,477.46 points to
101,248.02 points while listed equities value rose from N60.908 trillion to N61.375 trillion.