Stock market maintains bullish run, gains N336bn

 

THE equities market maintained its bullish run to close with N336 billion gain as market breadth also closed in favor of the gainers with a count of 46 gainers to 16 losers.
Similarly, the NSE All Share Index added 2.18 percent as it surged at 44,054.72 basis points at the close of today’s trading session.
The upturn was impacted by gains recorded in medium and large capitalized stocks, amongst which are; FBN Holdings (+10.21 percent) Julius Berger (+9.74 percent) Ecobank Transnational Incorporated (+5.00 percent), Mobil (+5.00 percent), UBA (+5.00 percent), Dangote Sugar (+4.98 percent), Zenith Bank (+4.72 percent), Guinness Nigeria (+4.60 percent), Access Bank (+4.19 percent), Stanbic IBTC (+2.85 percent), Dangote Cement (+1.96 percent), GuarantyTrust Bank (+1.80 percent), Forte Oil (+1.75 percent) Presco (+1.26 percent), Dangote Flour Mills (+0.55 percent), TotalNigeria (+0.43 percent), Nina Breweries (+0.28 percent) and Unilever Nigeria (+0.04 percent).
Sector indices took a positive form save for NSE Industrial which shrunk by 0.41 percent relative to its previous close while NSE Alternative Securities Market maintained its previous close.
The banking stocks trended high today to top gainer’s chart as represented by FBN Holdings, Sterling Bank, DiamondBank and Wema Bank alongside Transnational Corporation of Nigeria representing the Conglomerates while Consumer goods Stocks took the back sit to top the loser’s chart as represented by Honeywell Flour Mills and AG Leventis alongside Law Union and Rock Insurance, NPF Microfinance Bank and Wapic Insurance representing other financial sector.
In order of appearance, the volume-based performance chart were led by Access Bank, Transnational Corporation of Nigeria, FBN Holdings, UBA and Fidelity Bank while value-based performance charts were led by Access Bank, GuarantyTrust Bank, FBN Holdings, Zenith Bank and UBA respectively.
Market activities by volume lowered by 13.03 percent today to close at 635 million shares from previous close of 730 million shares while value increased by 21.19 percent to close at N7.63 billion from previous close of N6.30billion.
The banking sector contributed largely at approximately 73 percent to today’s aggregate trade value and 67 percent to aggregate trade volume.