Activities on the Nigerian equities market closed positive yesterday, reversing two days of negative sentiments following gains recorded by blue chip stocks. The key market performance measures, the NSE All Share Index and market capitalisation, rose by 0.23 per cent as market sentiments returned to gaining streaks following investors’ sustained optimism on undervalued stocks.
Consequently, the All- Share Index gained 96.09 basis points or 0.23 per cent to close at 41,147.72 as against 41,051.63 recorded the previous day while the market capitalisation of equities appreciated by N50 billion or 0.23 per cent to close at 21.524 trillion from N21.474 trillion as market sentiment returned on the green zone. Meanwhile, a turnover of 849.65 million shares exchanged in 6,297 deals was recorded in the day’s trading.
The insurance sub-sector was the most active (measured by turnover volume); with 215.22 million shares exchanged by investors in 856 deals. Volume in the sub-sector was largely driven by activities in shares of AXA-Mansard Insurance Plc and Mutual Benefits Assurance Plc. The premium sub-sector boosted by activities in shares of Access Bank Plc and Zenith Bank Plc followed with a turnover of 56.6 million shares in 1,179 deals.
The number of gainers at the close of trading session was 55 while decliners closed at 16. Deap Capital Plc, Mutual Benefits Plc, NNFM Plc, Niger Insurance Plc, Royal Exchange Plc and Sovereign Trust Insurance Plc led the gainers’ table by 10 per cent each to close at 22 kobo, 55 kobo, N8.80, 33 kobo and 44 kobo per share respectively, while Livestock Feeds Plc and BOC Gases Plc followed with a gain of 9.80 per cent each to close at N2.80 and N15.12 per share respectively. CHI Plc added 9.76 per cent to close at 45 kobo per share.