At 66,490.34basis points, equities market major index reaches 15-year high

The Nigerian equities market on Tuesday extended its bullish run, leading to major index to reached 15-year high at 66,490.34basis points.

As the Nigerian Exchange Limited All-Share Index (ASI) gained 338.96 basis points or 0.51 per cent to close at 66,490.34 basis points, market capitalisation rose by N186 billion to close at N36.391 trillion.

The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; Dangote Sugar Refinery, NASCON Allied Industries, Flour Mills of Nigeria, Transcorp Hotels and Nigerian Aviation Handling Company (NAHCO).

Market breadth closed positive, as 34 stocks gained relative to 32 decliners. Champion Breweries and Flour Mills of Nigeria emerged the highest price gainer of 10 per cent each to close at N3.19 and N33.00 respectively, per share.  NASCON Allied Industries followed with a gain of 9.96 per cent to close at N54.10, while NAHCO and Dangote Sugar Refinery advanced by 9.95 per cent each to close at N22.10 and N57.45 respectively, per share.

On the other side, Linkage Assurance and Computer Warehouse Group (CWG) led others on the losers’ chart with 10 per cent each to close at 90 kobo and N4.05 respectively, while Chellaram followed with a decline of 9.85 per cent to close at N3.57, per share.

Prestige Assurance depreciated by 9.80 per cent to close at 46 kobo, while University Press shed 9.66 per cent to close at N2.15, per share.

The total volume of trade increased by 40.45 per cent to 436.956 million units, valued at N7.014 billion, and exchanged in 7,932 deals. Transactions in the shares of FBN Holdings (FBNH) led the activity with 55.146 million shares worth N911.206 million. Japaul Gold & Ventures followed with account of 33.111 million shares valued at N29.923 million, while United Bank for Africa (UBA) traded 30.177 million shares valued at N412.172 million.

Access Holdings traded 25.354 million shares worth N414.374 million, while Transnational Corporation (Transcorp) traded 18.219 million shares worth N127.717 million.

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