Nigerian equities continue rally for 3rd day as All-Share Index gains 100.46 points Thursday

The equity market on Thursday gained 0.24 percent, sustaining an uptrend for the third day in a row.

The All Share Index (ASI) gained 100.46 points, representing a growth of 0.24 percent to close at 42,258.78 points.

Market capitalisation gained N36.05 billion, representing a growth of 0.24 to close at N15.17 trillion.

Market breadth closed positive as Japaul Oil led 24 gainers as against 17 led by Unic Insurance at the end of the day’s session, which was an improvement when compared with the previous day.

Most sector gauges closed in the green even as shares of banking major, UBA and downstream oil & gas players, Total Nigeria, led the gainers list in terms of value, which resulted in a rise in the Banking and Oil & Gas indices by 0.71 percent and 0.70 percent, respectively.

On a year to date basis, the All Share Index gain rose to 10.50 percent.

Market turnover closed negative as volume moved down by -40.01 percent as against +11.75 percent uptick recorded in Wednesday’s session.

Fidelity Bank, Skye Bank and FBN Holdings were the most active, helping to boost market turnover. Zenith Bank and Guaranty Trust Bank topped market value list.

The upturn was impacted by gains recorded in medium and large capitalised stocks, among them, Total Nigeria (+4.78 percent), UBA (+3.17 percent), FBN Holdings (+3.14 percent), Access Bank (+1.57 percent), Flour Mills (+1.38 percent), Dangote Flour (+1.23 percent), Zenith Bank (+0.79 percent), Union Bank of Nigeria (+0.74 percent), Nestle Nigeria (+0.58 percent), WAPCO (+0.49 percent) and Ecobank Transnational Corporation of Nigeria (+0.25 percent).

On the downward side, Unic Insurance declined by (-6.67 percent), Courtville with (-5.56 percent), AG Leventis (-5.00 percent), Caverton (-4.91 percent) and Dunlop with (-4.35 percent).