Equity market sustains bullish run as investors gain N259bn

The equity market extended its rally to the fourth consecutive trading day as investors gained about N259bn on Thursday.

The benchmark index and the market capitalisation of the Nigerian Exchange appreciated by 0.46 per cent to close at 99,276.03 points and N56.16tn, respectively.

On Wednesday, investors gained about N246bn, buoyed by an appreciation by Abbey Mortgage Bank, National Salt Company, First City Monument Bank and 28 other gainers

The increased trading activity dominated the day’s trade with the exchange recording 32 gainers and 12 losers.

Top gainers of the day included International Energy Insurance and Seplat Energy which added 10 per cent to close at N 1.54 and N3.410, respectively and Eterna with 9.87 per cent to close at N12.25

The decliners chart was led by Cornerstone Insurance, which lost 8.81 per cent to close at N1.75, International Breweries Plc shed 8.75 per cent to N3.65 and Prestige Assurance Company dipped 8.47 per cent to N0.54.

The number of deals dipped by 9.59 per cent to 7,035, while the trading volume decreased by 40.32 per cent to 309, 714,120 million traded shares.

Access Holdings led the volume chart with 51,777,439 units traded in 754 deals while Zenith Bank was the most traded security by value, amounting to N1.31bn in 509 deals.

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