Market News

By: Chiamaka Okechukwu

The Nigerian Equities market has Bargain hunting and profit-taking activities among investors led to a bullish close for third consecutive day in Nigeria’s domestic capital market .

The market capitalisation of the Exchange inched up by N508 billion due to gains from 45 equities to close at N66.667 trillion or 0.75 percent on Thursday higher than the N66.159 trillion of the previous day.

Similarly, the All-Share Index (ASI) of listed equities also climbed by 790.59 absolute points or 0.75 percent to settle at 106,074.26 points compared to the 105,283.67 points recorded  from Wednesday session.

The uptrend was driven by strong buying interest in medium and large cap equities like Cadbury,  Eterna among others.

The day’s session ended with a total of 328,257,590 million shares that exchanged hands in 12,142 deals.

Investors also witnessed 45 stocks making it to the gainers table with 15 losers.

Cadbury, ETERNA, Ikeja Hotel, Wapco and Nestle led the gainers list with a 10 percent profit on their share prices to close at N24.20k, N36.30k, N11.00, N79.20k and N1,100.00 respectively.

Vitafom followed closely with a 9.97 percent increase on its share to close at N40.80k per share; while Academy Press gained 9.96 percent to close at N2.87k per share.

On the losing side, John Holt share price dropped by 10 percent to close at N6.30k. HMCALL followed with a 9.96 percent decline to close at N4.70k per share.

Multiverse closed at N7.80k per share, after losing a 9.83 percent, and Guineains share price dropped by 8.57 percent to close at N0.64k.