Market Year-to-Date Growth Hits 22.5% on Continuing Bull Run

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The Nigerian equities market continued its bullish trend thursday as the Nigerian Stock Exchange (NSE) All-Share Index rose further by 0.77 per cent to close at 32,937.98. As at the thursday, the market had recorded year-to-date growth of 22.56 per cent. Market capitalisation added N86.9 billion to close higher at N11.4 trillion.

A total of 46 stocks appreciated, 14 declined, while volume and value of transactions rose by 5.8 per cent and 18.8 per cent in that order. Forte Oil Plc and International Breweries Plc led the price gainers with 10.2 per cent apiece. Cadbury Nigeria Plc rose by 10.15 per cent just as Seplat Plc, Dangote Flour Mills Plc, and UAC of Nigeria Plc added 10.14 per cent, 10.13 per cent and 10.1 per cent per cent respectively.

May & Baker Nigeria Plc, Diamond Bank Plc, Access Bank Plc and Transcorp Plc garnered 9.7 per cent, 9.5 per cent,7.3 per cent and 5.3 per cent in that order.

Similarly, Transcorp Hotels Plc appreciated by 5.0 per cent as investors reacted to the information of that the company has reopened its executive floors and lounge of its flagship Transcorp Hilton Abuja after renovation.

According to the company, the reopening marks a milestone in the on-going $100 million renovation project of the historic and award winning 5-star hotel, leading up to its 30th anniversary commemoration this year.

Commenting on the development, Managing Director/CEO, Transcorp Hotels Plc, Valentine Ozigbo, had said: “Our guests have grown to expect nothing less than the very best from us. That includes the pinnacle of customer service, overall comfort, and a level of aesthetic appeal rivaled by no other hotel in Nigeria. The complete overhaul of the executive floor and lounge is a testament to our commitment to delivering extraordinary experience to our guests.”

Also commenting on the new executive rooms and suites, the General Manager of Transcorp Hilton Abuja, Etienne Gailliez said: “We are excited to attain this milestone of our renovation project. Our Guests are really going to love the truly impressive transformation of the executive floor guest rooms and lounge. We are proud to work with owners who have a deep understanding of our industry and embrace our brand culture of creating a rewarding experience for our guests.”

Meanwhile, Golden Guinea Breweries Plc and Jaiz Bank led the price losers with 4.7 per cent apiece. Julius Berger Nigeria Plc trailed, shedding 4.6 per cent, while Neimeth International Pharmaceuticals Plc and Wapic Insurance Plc appreciated by 4.6 per cent, 4.0 per cent and 3.6 per cent in that order.