Stock market gains N240bn

The stock market extended its rally for a fifth consecutive session on Thursday, adding N240 billion to market capitalisation.

Market capitalisation increased to N68.652 trillion, representing 0.35% increase from the opening value of N68.412 trillion.

The All-Share Index also rose by 382.13 points, or 0.35%, to close at 109,231.96.

This bullish trend was fueled by continued investor interest in medium- and large-capitalised stocks across key sectors.

On the price movement chart, 38 stocks recorded price appreciation against 21 decliners.

On the gainers’ chart, Beta Glass soared by 10%, settling at N160.65 while Chellaram grew by 10% to close at N9.46 per share.

International Energy Insurance gained by 9.93% to finish the session at N1.66, while May and Baker increased by 9.78%, closing at N10.10 per share.

Similarly, the Academy grew by 9.78% to close at N3.93 per share.

On the losers’ chart, Abbey Mortgage Bank declined by 10%, closing at N7.47 while Livestock Feeds dropped by 9.77%, settling at N7.85 per share.

Legend Internet Plc fell by 8.50%, ending the session at N9.15, and Deap Capital Management shed 6.48% to close at N1.01 per share.

VFD Group also lost by 5.88%, finishing at N16.00 per share.

A total of 554,069 million shares worth N14.35 billion were exchanged across 16,704 transactions.

This is compared to 587.47 million shares worth N18.66 billion that were exchanged across 17,496 deals earlier.

Transactions in the shares of Fidelity Bank topped the activity chart with 69.76 million shares worth N1.41 billion.

Access Corporation followed with 65.76 million shares valued at N1.44 billion, while Tantalizer transacted 55.06 million shares worth N126.76 million.

Guaranty Trust Holding Company sold 45.97 million shares valued at N3.104 billion, and First Bank Holding Company traded 22.71 million shares worth N571.60 million.

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