Investor enthusiasm in shares of BUA Cement, Zenith Bank, and other leading traders sparked a turnaround in the equity market on Thursday, marking the first gain of the week.
Specifically, the market capitalisation, commencing at N58.947 trillion, surged by N74 billion or 0.13 per cent, concluding at N59.021 trillion.
The All-Share Index also ascended by 0.13 per cent or 131 points, settling at 104,387.47 from Wednesday’s 104,256.81.
Investor interest in prominent equities like Transnational Corporation (Transcorp), Guaranty Trust Holding Company (GTCO), Access Corporation (AccessCorp), Guinea Insurance, and Guinness Nigeria Plc buoyed the market.
Particularly, AccessCorp, whose flagship subsidiary, Access Bank, initiated the acquisition of the entire issued share capital of National Bank of Kenya Ltd. (NBK) on Wednesday, witnessed a 2.83 per cent increase in its share price.
By the end of Thursday’s trading session, AccessCorp’s share price, opening at N22.95, ascended by 65k, closing at N23.60 per share.
AccessCorp, having sold 17.97 million shares valued at N413.02 million on Wednesday, traded 32.02 million shares worth N750.04 million on Thursday.
Nevertheless, market breadth concluded negatively with 29 equities on the laggard’s table and 22 others on the gainer’s table.
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Deap Capital Management and Trust Plc topped the loser’s table with a decline of 7k to close at 63k, trailed by Tourist Company of Nigeria, which fell by 28k to finish at N2.56 per share.
Computer Warehouse Group (CWG) dropped 55k to conclude at N5.50, Caverton shed 15k to end at N1.60, while Omatek lost 7k to close at 80k per share.
On the gainers’ table, Juli led by adding 65k to close at N7.15, Transcorp gained N1.35 to settle at N14.90, whereas International Energy Insurance (IEI) rose by 14k to close at N1.59 per share.
E-Tranzact appreciated by 55k to conclude at N6.25, and Guinea Insurance grew by 3k to close at 39k per share.
An analysis of market activities revealed that trade turnover surpassed the previous session, with transaction value increasing by 35.74 per cent.
A total of 336.82 million shares valued at N9.29 billion were exchanged in 8,790 deals compared to 298.65 million shares valued at N6.84 billion in 8,248 deals on Wednesday.
Meanwhile, United Bank of Africa (UBA) led the activity chart in volume and value with 63.88 million shares valued at N1.72 billion.
Following UBA, AccessCorp traded 32.02 million shares worth N750.04 million, while Zenith Bank sold 21.77 million shares valued at N846.99 million.
Transcorp traded 20.62 million shares worth N300.49 million, and GTCO transacted 19.04 million shares valued at N894.62 million.
