Lagos: The Nigerian Exchange Ltd. (NGX) closed on a positive note on Thursday, as the stock market gained N240 billion, driven by strong investor interest in select equities. The market capitalisation rose by N240 billion or 0.37 per cent to close at N65.499 trillion, up from N65.259 trillion recorded on Wednesday. Similarly, the All-Share Index (ASI) appreciated by 381.93 points or 0.37 per cent to close at 104,233.81, compared to 103,851.88 in the previous session.
According to News Agency of Nigeria, the rally was largely supported by buying interest in stocks such as ABBEY Mortgage Bank, Nigerian Breweries, ABC Transport and others. Market breadth was flat, with 24 gainers and 24 losers. On the gainers’ chart, ABBEY Mortgage Bank soared by 9.94 per cent to close at N8.96 per share. Nigerian Breweries rose by 9.86 per cent to close at N36.20 per share. ABC Transport also grew by 9.23 per cent, closing at N1.42 per share. Livestock Feeds increased by 9.20 per cent to close at N9.50 per share. Ecobank Transnational Incorporated gained by 8.94 per cent to close at N29.25 per share.
Conversely, Sunu Assurance dipped by 9.91 per cent to close at N5.00 per share. Ellah Lakes dropped by 9.76 per cent, closing at N3.05 per share. Cornerstone declined by 9.44 per cent to close at N2.59 per share. Sovereign Trust Insurance also fell by 9.18 per cent to close at 89k per share. Universal Insurance lost by 7.55 per cent, closing at 49k per share.
A total of 376.29 million shares worth N7.905 billion were exchanged across 11,204 deals. This is compared to 351.65 million shares worth N13.710 billion that was traded in 12,141 transactions earlier on Wednesday. Transactions in the shares of Universal Insurance topped the activity chart with 89.266 million shares worth N44.368 million. Fidelity Bank followed with 49.528 million valued at N915.904 million while Access Corporation transacted 32.856 million shares worth N715.32 million. Zenith Bank sold 15.57 million shares valued at N685.44 million and Nigerian Breweries traded 15.418 million worth N555.57 million.