Mobil Lifts Stock Market as Investors Gain N92b

By Modupe Gbadeyanka

Stock market investors in Nigeria recorded gain at the market on Thursday after having to endure the bearish trends experienced by the local bourse this week.

The market capitalisation rose by N92 billion to finish at N8.835 trillion, while the All-Share Index improved by 266.14 points or 1.05 percent to close at 25,533.82 points and the year-to-date return ended at -4.99 percent.

The market breadth, according to Business Post correspondent, closed positive as there were 24 gainers at the close of trading activities versus 8 losers.

However, the volume of shares traded by investors depreciated.

A total of 352 million shares were transacted today in 2,438 deals valued at N2.5 billion, compared with 7771.7 million shares exchanged on yesterday in 2,703 deals worth N2.6 billion.

On the price movement chart, Mobil topped the gainers with a rise of N5.1k to close at N300.1k per share, while Dangote Cement trailed with an addition of N3 to finish at N165 per share.

Unilever improved by N1.49k to end at N33.49k per share, Nigerian Breweries progressed by N1 to close at N131 per share and Forte Oil advanced by 80k to wrap the day at N47.80k per share.

On the flip side, Guinness lost 80k to finish at N60 per share and UACN depreciated by 30k to end at N13 per share.

CCNN crashed by 23k to close at N4.47k per share, Jaiz Bank fell by 6k to finish at N1.21k per share and Fidson slumped by 3k to end at 98k per share.

As at the time the stock market officially closed today, only Sterling Bank had released its 2016 full year audited results.