The Nigerian equities market reversed previous negative sentiments to close in an upbeat yesterday, as gains in Neimeth International Pharmaceuticals and 22 others lifted market capitalisation by N65 billion.
The market positive performance was driven by price appreciation in large and medium capitalised stocks including, MTNN, BOC Gases, Lafarge Africa, Nigerian Aviation Handling Company and Honeywell Flour Mills.Analysts at Afrinvest Limited said: “We expect the positive sentiment to dominate tomorrow’s trading session amidst bargain-hunting opportunities in some large-cap stocks.”
BOC Gases rose by 9.90 per cent to close at N11.10 kobo. Pharma Deko Plc went up 9.79 per cent to close at N1.57 kobo. The total volume of trades increased by 52.8 per cent to 201.840 million units, valued at N1.680 billion, and exchanged in 3,274 deals. Transactions in the shares of Courteville Business Solutions topped the activity chart with 34.829 million shares valued at N10.1 million.