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The country’s stock market began the year better, making an N155 billion profit for investors on the first trading day of the year.
It noted that while most Tier-one banking stocks led by Zenith Bank, UBA and FBN holdings Access Corporation posted positive gains, that buoyed the positive performance.
For instance, the market capitalisation, which started the year at N62.763 trillion, appreciated by N155 billion, or 0.25 percent, to close at N62.918 trillion in the same year.
The All-Share index also rose by 0.25 percent or 254 points, to reach 103,180.14, as compared with 102,926.40 on Tuesday.
Therefore, the Year till date Average Yield [YTD] has climbed to 0.25 percent position.
Market breadth also closed positive with fifty-eight firms in the green and eight in the red.
The lead gainers climbed 10 per cent each to close at N3.96, N2.53, N1.87, N5.50 and N9.02 per share respectively; they include Cornerstone Insurance, Cutix Plc, International Energy Insurance Plc, NCR Nigeria and Axa Mansard Insurance.
On the losersā chart, Ellah Lakes Plc shed 4.75 percent to trade at N3.01, and Nand National Salt Company depreciated by 4.31 percent to trade at N30 per share.
CWG declined by 3.25 percent to N7.45, Fidelity Bank was down by 2.86 percent to N17 per share and Int Breweries dropped by 0.90 percent to N5.50 k.
Going by the market actions, it was evident that the trade turnover had softened in comparison to the previous period by a margin of 85.95:100.The volume of shares traded rose to 829.75 million Electrically, the stock was traded at N5.67 billion through 11,752 deals as against 437.76 million shares exchanged for N40.34 billion in 8,830 deals in the previous session excludes. ranking stocks, namely, Zenith Bank, United Bank for Africa (UBA) FBN Holdings, and Access Corporation, among other equities.
Specifically, the market capitalisation, which opened at N62.763 trillion, gained N155 billion or 0.25 per cent to close at N62.918 trillion.
The All-Share index also gained 0.25 per cent or 254 points, to close at 103,180.14, against 102,926.40 reported on Tuesday.
As a result, the Year-To-Date (YTD) return stood at 0.25 per cent.
Market breadth also closed positive with 58 gainers and eight losers.
Cornerstone Insurance, Cutix Plc, International Energy Insurance Plc, NCR Nigeria and Axa Mansard Insurance led the gainersā chart by 10 per cent each to close at N3.96, N2.53, N1.87, N5.50 and N9.02 per share, respectively.
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On the losersā side, Ellah Lakes Plc led by 4.75 per cent to close at N3.01, and National Salt Company trailed by 4.31 per cent to close at N30 per share.
Computer Warehouse Group also lost 3.25 per cent to close at N7.45, Fidelity Bank dropped 2.86 per cent to close at N17, while International Breweries Plc shed 0.90 per cent to close at N5.50 per share.
Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 85.95 per cent.
A total of 829.75 million shares valued at N5.67 billion were exchanged in 11,752 deals, compared with 437.76 million shares valued at N40.34 billion exchanged in 8,830 deals, posted in the previous session.
Royal Exchange topped the activity chart by volume of shares transacted, 290.99 million of them while Access Corporation topped the activity chart by value, N430.78 million worth of deals. (NAN)
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