The bulls sustained dominance on the equities sector of the Nigerian Exchange Limited (NGX), as the overall capitalisation crossed the N70 trillion mark.
The All-Share Index (ASI) gained 1,721.29 points, representing a gain of 1.57 per cent to close at 111,606.22 points. Also, market capitalisation rose by N1.085 trillion to close at N70.377 trillion.

The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; Airtel Africa, Aradel Holdings, Okomu Oil, Nigerian Aviation Handling Company (NAHCO) and Lafarge Africa.

On market outlook, Afrinvest Limited, said, “We expect the positive momentum to carry into the next trading session, as investors continue to evaluate upside potential in tickers with sturdy earnings performances.”

Investor sentiment, as measured by market breadth, closed positive, as 36 stocks relative to 21 losers. Airtel Africa emerged the highest price gainer of 10 per cent to close at N2,372.50 kobo. Omatek Ventures followed with a gain of 9.23 per cent to close at 71 kobo, while Cornerstone Insurance advanced by 8.63 per cent to close at N3.40 kobo.

NAHCO appreciated by 8.39 per cent to close at N80.75 kobo, while University Press rose by 6.47 per cent to close at N5.10 kobo. On the other side, McNichols led others on the losers’ chart with 9.80 per cent to close at N2.21 kobo. CWG followed with a decline of 9.50 per cent to close at N9.05 kobo, while Champion Breweries shed 7.38 per cent to close at N6.90 kobo.

Red Star Express lost 4.62 per cent to close at N6.40 kobo, while Jaiz Bank depreciated by 4.46 per cent to close at N3.21 kobo.The total volume traded rose by 1.13 per cent to 409.571 million units, valued at N9.870 billion, and exchanged in deals. Transactions in the shares of Custodian Investment led the activity with 37.589 million shares worth N752.119 million. Fidelity Bank followed with an account of 37.589 million shares valued at N752.119 million, while Veritas Kapital Assurance traded 33.005 million shares valued at N34.105 million.

Zenith Bank traded 27.432 million shares worth N1.328 billion, while Access Holdings traded 23.692 million shares worth N519.556 million.

[Guardian]