The stock market began the new month on a bullish run for the fourth consecutive session as the market gained N142bn at the close of activities on the floor of the Nigerian exchange limited on Wednesday.
The All Share Index rose by 261.01 absolute points, representing a gain of 0.49 per cent to close at 53,499.68 points.
Accordingly, investors gained N142bn in value as market capitalisation went up to N29.140tn.
The upturn was impacted by gains recorded in medium and large capitalised stocks, among which are Seplat Energy, Nestle Nigeria, Geregu Power, Nigerian Exchange Group, and Stanbic IBTC Holdings.
Meanwhile, market breadth closed flat with 20 gainers and 20 losers.
Industrial and Medical Gas Nigeria and Seplat Energy recorded the highest price gain of 10 per cent each to close at N7.70 kobo and N1,210, per share respectively. In comparison, Northern Nigeria Flour Mills followed with a yield of 9.46 per cent to close at N8.10 kobo, per share.
International Energy Insurance went up by 9.33 per cent to close at 82 kobo, while Nigerian Aviation Handling Company appreciated by 9.26 per cent to close at N8.85, per share.
On the other hand, Guinness Nigeria led the losers’ chart by 10 per cent to close at N63.00, per share.
Ardova followed with a decline of 9.95 per cent to close at N17.20, while Academy Press went down by 9.85 to close at N1.19 kobo, per share.
R.T. Briscoe Nigeria lost 9.68 per cent to close at 28 kobo, while Cornerstone Insurance shed 8.33 per cent to close at 55 kobo, per share.