Nigerian Stocks up by 1.10% as Investors Gain N148b

By Dipo Olowookere

Transactions on the floor of the Nigerian Stock Exchange (NSE) closed on Thursday on a positive note, extending the rally to the second trading session.

At the close of business today, the stock market finished 1.10 percent higher as investors embark on bargain hunting at the market.

The All-Share Index (ASI) increased by 416.78 points to settle at 38,350.64 points, while the market capitalisation grew by N148.3 billion to finish at N13.648 trillion.

The market breadth closed positive today with 23 appreciating stocks and 13 depreciating stocks, while the Year-to-Date (YtD) gain ended at 42.70 percent.

At the market on Thursday, the Financial Services sector led the activity chart with 321.8 million shares exchanged for 933 million, while the Conglomerates sector followed with 93.5 million shares traded for N134 million.

Business Post reports that the volume of equities traded today increased by 106.5 percent from 207.9 million to 429.4 million, while the total value of stocks transacted decreased by 55.3 percent from N3.4 billion to N1.5 billion.

AIICO led the activity chart on Thursday, trading 210.5 million shares worth N109.5 million, and was followed by Transcorp, which sold 93.4 million shares valued at N132.3 million.

Fidelity Bank traded 23.9 million equities worth N53.3 million, FCMB sold 13.2 million shares valued at N17.5 million, while UBA transacted 13 million shares valued at N133.5 million.

On the price movement chart, Dangote Cement emerged the highest price gainer, appreciating by N9 to settle at N238 percent.

International Breweries grew by N2.20k to close at N54 per share, while Seplat increased by 95k to finish at N568 per share.

Ecobank rose today by 70k to end at N17.20k per share, and Berger Paints appreciated by 40k to settle at N8.49k per share.

On the flip side, Nestle, which gained N30.95k yesterday, lost N29.79k today to top the losers’ log, closing at N1465.21k per share.

It was followed by Total Plc, which fell by N11 to finish at N219 per share, and Nigerian Breweries, which slumped by N1.53k to close at N140.52k per share.

Dangote Sugar depreciated by N1.18k to settle at N19.34k per share, while May & Baker declined by 12k to end at N2.62k per share.