Buyers Achieve ₦459 Billion as Nigerian Equities Lengthen Bullish Run

The Nigerian Alternate sustained its bullish momentum on Wednesday as buyers gained ₦459 billion on the shut of buying and selling.

The market capitalisation, which opened at ₦92.031 trillion, rose by ₦459 billion or 0.50 per cent to shut at ₦92.490 trillion.

Equally, the All-Share Index appreciated by 0.50 per cent or 723.83 factors to shut at 144,995.26 in comparison with 145,719.09 recorded within the earlier session.

The optimistic outing was pushed by elevated demand for shares of FTN Cocoa Processors, Livingtrust Mortgage Bank, Eterna, Status Assurance, Fidelity Bank, and different advancing shares.

Regardless of the general market achieve, breadth closed unfavourable as 34 equities declined whereas 29 appreciated. Industrial and Medical Gases led the losers’ desk, shedding 9.97 per cent to shut at ₦32.95.

Livingtrust Mortgage Bank adopted with a 9.93 per cent drop to ₦5.35, whereas Sunu Assurances dipped by 9.48 per cent to ₦5.25 per share. Jaiz Bank fell by 7.53 per cent to ₦4.30 and Chams misplaced 6.28 per cent to shut at ₦4.33 per share.

Conversely, FTN Cocoa Processors led the gainers’ desk with an 8.89 per cent enhance to ₦6.00 per share. Livestock Feeds rose by 7.43 per cent to ₦7.95, whereas Eterna appreciated by 6.96 per cent to ₦41.50 per share.

Status Assurance gained 4.94 per cent to ₦1.70 and Fidelity Bank superior by 4.74 per cent to ₦21.00.

Market exercise confirmed blended efficiency, with enhancements in quantity traded however declines in each worth and the variety of offers.

A complete of 525.72 million shares valued at ₦13.61 billion have been exchanged in 25,597 offers, in comparison with 507.41 million shares price ₦24.29 billion traded in 30,681 offers within the earlier session.

Consolidated Hallmark Holdings emerged as essentially the most actively traded inventory by quantity with 83.54 million shares valued at ₦351.03 million.

It was adopted by FBN Holdings with 36.54 million shares price ₦1.13 billion, whereas Jaiz Bank recorded 28.7 million shares valued at ₦125.56 million. Chams traded 24.46 million shares price ₦106.69 million, and Ellah Lakes exchanged 21.37 million shares valued at ₦300.23 million.

The sustained uptrend displays cautious optimism amongst buyers who proceed to take positions in choose mid- and large-cap shares forward of upcoming third-quarter earnings studies.