Tier-1 banks raise fairness market by N149bn — Each day Nigerian
Gains in Tier-one banking shares, on Thursday, sustained the upward trajectory of the Nigerian inventory market, resulting in a revenue of N149 billion for traders.
Gains in Guaranty Trust Holding Company, GTCO; Zenith Bank, FBN Holdings, FBNH; United Bank For Africa, UBA; Access Corporation, amongst different superior equities, pulled the market up.
Consequently, the Nigerian Exchange Ltd, NGX market capitalisation gained N149 billion or 0.25 per cent from a gap of N59.955 trillion, to shut at N60.104 trillion.
The All-Share-Index additionally superior by 0.25 per cent or 246 factors, to settle at 99,189.95, as in opposition to 98,944.42 recorded on Wednesday.
As a consequence, the Year-To-Date, YTD return rose to 32.65 per cent.
The market breadth additionally closed positively with 28 gainers and 19 losers.
On the gainers’ chart, Access Corporation led by N2 to shut at N22.10, Academy Press adopted by 28k to shut at N3.14, Cornerstone gained 19k to shut at N2.69 whereas UPDC gained 13k to shut at N1.59 per share.
Veritas Kapital Assurance appreciated by 9k to shut at N1.60 per share.
On the losers’ chart, Royal Exchange misplaced 7k to shut at 65k, International Breweries trailed by 27k to shut at N4.06 per share.
Livestock Feed Plc declined by 20k to shut at N3.10, Wapic dropped 6k to shut at 95k, whereas Champion shed 20k to shut at N3.50 per share.
Analysis of the market actions confirmed commerce turnover settled greater, relative to the earlier session, with the worth of transactions up by 89.56 per cent.
A complete of 400.91 million shares, valued at N15.72 billion, had been exchanged in 9,211 offers, in comparison with 283.73 million shares valued at N8.29 billion traded in 7,961 offers posted within the earlier session.
UBA led the exercise chart in quantity with 58.42 million shares, whereas Aradel led the chart within the worth of offers price N4.24 billion.
NAN
