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Equities market extends gains, rises by 1.53%

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Gains persisted on the Nigerian Stock Exchange, NSE, for the third consecutive session today, with the All Share Index, ASI, posting 1.53 percent return to 38,435.20 points as investors continued to hunt bargains across major sectors.

Nigerian Stock Exchange
Nigerian Stock Exchange NSE

The second performance measurement indicator – the capitalisation of listed equities – jumped N210 billion or 1.53 percent to close at N13.922 trillion from N13.712 trillion on Tuesday.

41 gainers emerged in the day compared to 16 losers with Fidelity Bank Plc leading the gainers with 9.91 to close at N2.33 from N2.12. This was followed by Oando Plc, which rose by 9.70 percent to close at N7.35 from N6.70.

Diamond Bank Plc recorded 9.46 percent increase, closing at N1.62 from N1.48; Lafarge Africa appreciated by 9.35 percent to N38.00 from N34.75, while Dangote FlourMill Plc notched up by 9.09 percent to N10.20 from N9.35 per share.

Analysis of the sectorial movement showed that all sectoral indices closed positive, with the industrial goods sector posting the highest gains at 4.16 percent on the back of interests in Lafarge Africa Plc which rose by 9.35 percent.

The consumer goods sector appreciated by 2.51 percent; the banking sector chalked up by 1.15 percent; the insurance sector rose by 0.99 percent, while the oil and gas sector was up 0.63 percent following demands for Flour Mills of Nigeria Plc (+5.78%), Fidelity Bank Plc (+9.91%), Aiico Insurance Plc (+4.92%), and Forte Oil Plc (+4.23%) shares respectively

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