Equities market appreciates by N113bn amid investor buying spree

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The market capitalisation of equities listed on Nigerian Exchange Limited (NGX) rose by N112.56billion at the end of trading on Friday as trading volumes rose.

The NGX All-Share Index increased by 0.42per cent from 49,499.43 basis to 49,706.09basis points.

The market capitalisation also gained N113billion, rising to N27.03trillion at the close of business on Friday.

The market activities were bullish as the total volume and value traded appreciated by 5.88 per cent and 27.87 per cent, respectively.

A total of 140.37 million units valued at N4.02billion were transacted in 2,063 deals.

UPDC Real Estate Investment Trust topped the traded stocks in terms of volume, accounting for 35.89 per cent of the total volume of trades.

The NGX Banking sector saw the highest increase of the day as it rose by 1.46 per cent, while NGX Insurance, NGX Oil & Gas and the NGX Industrial Goods index also recorded gains.

The NGX Consumer Goods index saw the only  depreciation at the end of trading on the floor of the exchange.

Market sentiment as measured by market breadth closed positive, recording 17 gainers and 14 losers.

Geregu Power Plc led the charts with a 10.00 per cent increase to close at N115 per share. Thomas Wyatt Nigeria Plc rose by 9.46 per cent to N0.81 per share to come in second.

Other top gainers were SCOA Plc, Honeywell Flour Mills Plc and Coronation Insurance Plc.

The top the losers’ chart was Consolidated Hallmark Insurance Plc and RT Briscoe Plc as their share prices fell by 7.69 per cent and 7.41 per cent respectively.

Other major decliners were Chams Holdings Plc, Cornerstone Insurance Plc and JA Paul Gold & Ventures Plc

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