The Nigerian equities market sustained rising trend, yesterday, driven by bargain hunting for Cadbury Nigeria Plc and 28 other stocks, as market capitalisation increased further by N26 billion.


At the close of trading yesterday, the all-share index (ASI) gained 41.89 points, representing a gain of 0.04 per cent to close at 105,593.28 points. Also, market capitalisation rose by N26 billion to close at N66.215 trillion.

The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; Cadbury Nigeria, Zenith Bank, Guaranty Trust Holding Company (GTCO), Fidelity Bank and May & Baker Nigeria.

As measured by market breadth, market sentiment was positive, as 29 stocks gained relative to 21 losers. May & Baker Nigeria emerged the highest price gainer of 10 per cent to close at N8.80 kobo.

Mutual Benefits Assurance followed with a gain of 9.59 per cent to close at 80 kobo while eTranzact International advanced by 9.38 per cent to close at N5.25 kobo.

Abbey Mortgage Bank appreciated by 8.86 per cent to close at N4.30 kobo while Consolidated Hallmark Holdings rose by 8.79 per cent to close at N3.59 kobo.

On the other side, Eterna led others on the losers’ chart with 9.21 per cent to close at N34.50 kobo.

Royal Exchange followed with a decline of 7.95 per cent to close at 81 kobo while Veritas Kapital Assurance shed 5.98 per cent to close at N1.10 kobo.

Wapic Insurance lost 5.88 per cent to close at N2.24, while Oando depreciated by 5.66 per cent to close at N50.


https://guardian.ng/business-services/business/gains-in-29-stocks-lift-capitalisation-by-n26-billion/