Bulls return, Nigerian stock market up by 0.02%

The Nigerian stock market traded on Wednesday to record the first gain for the month of April.
The All-Share Index advanced marginally by 0.02 per cent on Wednesday to close at 38,774.03 basic points.

The market capitalisation also rose by 0.02 per cent to close at N20.29, leaving investors with a gain of N3.88bn.

Despite the renewed bullish activity, 27 stocks recorded losses while 12 stocks posted gains.

The year-to-date loss of the NSE ASI moderated to -3.71 per cent.

Following buying pressure on stocks such as Nestle Nigeria and Flour Mills of Nigeria, the consumer goods index closed in the green, rising by 1.88 per cent.

This resulted in the lifting of Nestle and Flour Mills share prices by 3.27 per cent and 6.90 per cent respectively.

Sectoral performance was weak as the remaining four indices tracked closed in the red.

The banking, insurance, industrial and oil and gas indices fell by 3.12 per cent, 1.71 per cent, 0.66 per cent and 0.28 per cent respectively.

Trading activity was upbeat as total deals, volume and value of stocks traded rose.

At the close of the day’s trading, the total volume of trade rose by 58.71 per cent to 356.46 million units valued at N4.19bn in 6,130 deals.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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