Stock market advances with N36bn gain

The key market performance measures, the NSE All Share Index and market capitalisation, rose by 0.30 per cent as market sentiments extended gaining streaks following investors’ sustained optimism on undervalued stocks.

Consequently, the All-Share Index grew by 68. 85 basis points or 0.30 per cent from 23,021.01 index points last Friday to 23,089.86 while the market capitalisation of equities appreciated by N36bn to close at N12.033tn from N11.997tn. Banking subsector boosted by the activities in the shares of GTBank Plc and Sterling Bank Plc followed with 71.86 million units traded in 2,186 deals.Further analysis of the day’s trading showed that Prestige Assurance Plc led the gainers with 10 per cent to close at 55 kobo per share while ARDOVA Plc followed with 9.96 per cent to close at N12.70 per share and Wapic Insurance Plc with a gain of 7.69 per cent to close at 28 kobo per share.

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