Kayode Tokede

Investors demand for Lafarge Africa Plc and 35 others lifted the Nigerian stock market by N254 billion yesterday as the bourse continued its upward trajectory this week.

While Lafarge Africa appreciated by 6.15 per cent to close at N119.95 per share, the Nigerian Exchange Limited All-Share Index (NGX ASI) gained by 401.36 basis points or 0.29 per cent to close at 139,796.11 basis points  with the month-to-date and year-to-date returns settled at -0.4per cent and +35.8per cent, respectively.

Also, market capitalisation gained N254 billion to close at N88.453 trillion.

On sectors, performance was broadly positive as the NGX  Insurance index advanced by one per cent, NGX Industrial Goods Index appreciated by 0.9per cent, NGX Banking index gained 0.4per cent, and NGX  Consumer Goods index added 0.3per cent, while the NGX Oil & Gas index declined by 0.1 per cent.

Market sentiment remained strong, evidenced by a positive breadth with 36 stocks advancing against 18 decliners. Regency Alliance Insurance recorded the highest price gain of 10 per cent to close at N1.43, per share. MeCure Industries followed with a gain of 9.92 per cent to close at N21.60, while eTranzact International up by 9.73 per cent to close at N12.40, per share.

DAAR Communications rose by 9.57 per cent to close at N1.03, while Deap Capital Management & Trust appreciated by 9.52 per cent to close at N1.84, per share.

On the other hand, Unilever Nigeria led the losers’ chart by 9.79 per cent to close at N63.15, per share. FTN Cocoa Processors followed with a decline of 9.40 per cent to close at N5.40, while Ellah Lakes declined by 8.76 per cent to close at N13.02, per share.

Linkage Assurance depreciated by 6.85 per cent to close at N2.04, while Berger Paints declined by 6.33 per cent to close at N35.50, per share.

However, the total volume traded declined 30.46 per cent to 659.170 million units, valued at N12.510 billion, and exchanged in 25,334 deals. Transactions in the shares of FCMB Group topped the activity chart with 202.488 million shares valued at N2.097 billion. Universal Insurance followed with 63.140 million shares worth N79.391 million, while First Holdco traded 44.227 million shares valued at N1.339 billion.

Regency Alliance Insurance traded 30.982 million shares valued at N43.841 million, while Access Holdings sold 26.125 million shares worth N676.419 million.

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