Yesterday’s domestic stock market sustained the week’s bullish momentum with N166 billion gain, following bargain hunting in Nestle Nigeria and 35 others.
Accordingly, the All Share Index (ASI) gained 306.41 points, representing a growth of 0.58 percent to close at 52,927.60 points. Also, market capitalisation gained N166 billion to close at N28.819 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Nestle Nigeria, Seplat Nigeria, TotalEnergies Marketing Nigeria, Geregu Power, and Lafarge Africa.
As measured by market breadth, market sentiment was positive, as 36 stocks gained relative to 17 losers. Nestle Nigeria recorded the highest price gain of 9.98 percent to close at N1,148.00, per share. Tripple Gee & Company followed with an increase of 9.88 percent to close at N3.56, while UAC of Nigeria rose by 9.76 percent to close at N9.00, per share.
University Press went up by 9.76 percent to close at N2.25, while R.T. Briscoe Nigeria appreciated by 9.68 per cent to close at 34 kobo, per share. On the other hand, Chellaram Plc led the losers’ chart by 9.82 percent, to close at N1.47, per share. McNichols followed with a decline of 9.59 percent to close at 66 kobo, while Wapic Insurance declined by 8.70 percent to close at 42 kobo, per share.
Academy Press depreciated by 7.14 percent to close at N1.56, while Cutix AIICO declined by 3.23 percent to close at N2.40, per share.