Stock investors gain N110bn as Royal Exchange leads

There was an upswing in trading activities on the floor of the Nigerian Stock Exchange on Thursday as investors gained N110bn.

The sustenance in the positive sentiment at the Exchange followed gains recorded by Royal Exchange Plc and 20 other firms.

The key market performance measures, the NSE All Share Index and market capitalisation, rose by 0.87 per cent as market sentiments extended gaining streaks following investors’ sustained optimism on undervalued stocks.

Consequently, the All-Share Index rose by 210.88 basis points or 0.87 per cent to close at 24,354.25 index points as against 24,143.37 recorded the previous day while market capitalisation of equities appreciated by N110bn or 0.87 per cent to close higher at N12.692tn from N12.582tn as market sentiment remained on the green territory.

Meanwhile, a turnover of 431.58 million shares in 5,860 deals was recorded in the day’s trading.

Premium subsector was the most active (measured by turnover volume), with 214 .99 million shares exchanged by investors in 2,267 deals.

Volume in the subsector was driven by activities in the shares of the FBNH Plc and Zenith Bank Plc.

Banking subsector boosted by the activities in the shares of GTB Plc and Ecobank Plc followed with a turnover of 109.80 million shares in 1,333 deals.

The number of gainers at the close of trading session was 21 while decliners closed at 20.

Further analysis of the day’s trading showed that Royal Exchange Plc topped the gainers’ table with 10 per cent to close at 22 kobo per share while UPL Plc followed with 9.80 per cent to close at N1.12 per share and Conoil Plc with a 9.77 per cent gain to close at N19.10 per share.

On the flip side, Linkage Assurance Plc led the losers’ chart with a drop of 8.33 per cent to close at 44 kobo per share. Red Star Express Plc followed with a loss of five per cent to close at N2.85 per share while Africa Prudential Plc dropped by 4.63 per cent to close at N3.71 per share.
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