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NSE: Stock Market Recovers From 6-Day Losing Streak, Gains N16.5b


By Modupe Gbadeyanka

The equities market in Nigeria recovered from its six-day losing streak on Thursday with the major market indices closing in the green zone.

The market capitalisation rose by N16.5 billion to close at N9.03 trillion compared to N9.01 it achieved on Wednesday.

The all-share index also gained weight at the close of trading at the Nigerian Stock Exchange (NSE) today with an appreciation of 0.18 percent or 48.06 basis points to finish at 26,221.75 basis points.

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Total led the days’ declining stocks at the market with a depreciation of N25.88k to close at N290 per share, while Forte Oil followed with a drop of N9.67k to finish at N104.5k per share, Mobil lost N4.99k to end at N185.1k per share, Nigerian Breweries shed N1.50k to close at N142 per share and Cadbury slumped by N1.25k to finish at N11.70k per share.

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Contrariwise, GTBank grew by 96k to close at N21.61k per share, International Breweries gained 53k to finish at N19.53k per share, Zenith Bank appreciated by 49k to end at N14.70k per share, Access Bank improved by 15k to close at N5.30k per share, while Airline Services and Logistics Plc chalked up 13k to finish at N2.90k per share.

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Business Post reports that a total of 3,283 deals were executed on Thursday, involving an exchange of 137,638,444 units of shares, amounting to about N991 million in value terms.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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