Equity market reverses loss with N117bn gain

The Nigerian Stock Exchange reversed its previous day’s loss, as investors gained N117bn on Thursday.

The market capitalisation and the all-share index gained  0.21 per cent to close at N55.4tn and 96,407.88, respectively.

Investors exchanged 966.97 million shares valued at N7.42bn in 9,851 deals, a 117 per cent increase in volume and a 64 per cent rise in turnover.

Additionally, a total of 123 equities were traded, with 27 gaining and 23 declining.

Oando led the gainers with a 9.98 per cent rise, closing at N69.95 per share, while Julius Berger Nigeria and Cornerstone Insurance also gained 9.97 per cent and 9.88 per cent, respectively.

SCOA Nigeria suffered the largest decline, dropping 9.79 per cent to close at N1.75 per share.

Japaul Gold and Ventures followed closely, shedding 7.41 per cent to settle at N2.50; Tantalizer declined by 6.76 per cent to 69 kobo and Fidson Healthcare shed 5.45 per cent to N13.00.

Consolidated Hallmark Holdings recorded the highest trading volume, with 506 million shares changing hands, followed by FBN Holdings with 64.1 million shares and Access Holdings with 46.9 million shares.

On Wednesday, the Nigerian equity market lost N176bn, as the All-Share Index declined by 0.32 per cent, settling at 96,203.65 from the previous close of 96,510.12 points.

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