By Modupe Gbadeyanka
Stock market in Nigeria closed positive on Thursday to reverse the market’s three-day losing streaks, boosting investors’ confidence again.
Since the beginning of this week, the market has lost N132 billion in total.
Profit taking by investors had made the stock market finished in the red territory during those sessions.
But fortune smiled on investors, who recorded a profit of N11.3 billion at the close of trading activities today.
The all-share index, the major indicator of the market, grew by 32.69 points or 0.13 percent to close at 25,936.24 points, while the market capitalisation ended at N8.94 trillion after progressing by N11.3 billion.
Business Post reports that a total of 20 equities appreciated on the floor of the Nigerian Stock Exchange (NSE) on Thursday against 17 stocks that crashed.
The top gainers at the stock market were Guinness, which appreciated by N2.58k to close at N63.53k per share and Mobil, which rose by 99k to end at N275.99k per share.
Also, Stanbic IBTC went up by 50k to finish at N17.80k per share, Unilever leaped by 27k to end at N34 per share and Oando chalked up 22k to close at N4.78k per share.
However, the top losers were Total, which depreciated by N10 to finish at N268 per share and Forte Oil, which fell by N6.59k to end at N61.7k per share.
In the same vein, UACN slumped by 51k to close at N15.99k per share, Nigerian Breweries declined by 31k to finish at N134.54k per share, while UAC Property dropped 27k to end at N2.61k per share.
The volume of share traded today finished higher than what was achieved the previous day.
While investors bought and sold a total of 354.5 million shares on Thursday valued at N1.7 billion executed in 2,760 deals, they exchanged a total of 305 units on Wednesday at N1.6 billion transacted in 2,620 deals.
