Chris Ugwu 
Nigerian equities market, yesterday, sustained its positive outlook for the third day as the overall performance measures, NGX ASI and market capitalisation, rose further by 0.72 per cent. Market watchers attributed the development to sustained confidence as bargain hunters leverage on undervalued stocks. Consequently, the All-Share Index rose by 337.08 basis points or 0.72 per cent to close at 47,205.03 index points as against 46,867.95.50 recorded the previous day, while market capitalisation of equities appreciated by N182 billion or 0.72 per cent to close higher at N25.448 trillion from N25.266 trillion as market sentiment remained on the green territory.
Meanwhile, a turnover of 245.42 million shares in 5,832 deals was recorded in the day’s trading. The banking sub-sector was the most active (measured by turnover volume) with 59.05 million shares exchanged by investors in 1,161 deals. Volume in the subsector was driven by activities in shares of GTCO Plc and Fidelity Bank Plc.
The premium sub-sector, boosted by activities in the shares of Zenith Bank Plc and UBA Plc, followed with a turnover of 54.92 million shares in 1,844 deals. The number of gainers at the close of trading session was 31, while decliners closed at 18. Further analysis of the day’s trading showed that CAP Plc led the gainers’ table by 10 per cent to close at N19.80 per share, while Niemeth Pharmaceuticals Plc followed with 9.86 per cent to close at N1.56 per share and Berger Paints Plc with a gain of 9.68 per cent to close at N6.80 per share. On the flip side, Academy Press Plc led the losers’ chart by 10 per cent to close at N1.44 per share. Carverton Plc followed with a loss of 9.92 per cent to close at N1.18 per share while Royal Exchange Plc dropped by 9.62 per cent to close at 94 kobo per share.
