Bulls’ run ups Nigerian stocks by 0.04%

For the second time, the Nigerian stock market on Thursday recorded a fifth straight consecutive gain, after doing so in the last week of January 2021.

Trading on a positive territory, the All-Share Index rose by 0.04 per cent to close at 39,144.39 points.

The market capitalisation also advanced by 0.04 per cent to N8.4bn amid the sustained bargain hunting activities.

The year-to-date loss of the ASI lowered to -2.79 per cent as 18 stocks recorded gains as against 15 that lost.

Amid the positive investors’ sentiment, the share prices as PZ Cussons Nigeria, UAC of Nigeria, United Bank for Africa, and Oando rose by 6.93 per cent, 1.43 per cent, 2.07 per cent and 3.96 per cent respectively.

Sectoral performance, however, was bearish as three out of the five indices tracked closed in the red zone.

The banking, insurance and consumer goods indices fell by 0.04 per cent, 0.40 per cent and 0.01 per cent respectively.

While the oil and gas index gained 0.21 per cent, the industrial index closed flat.

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

At the close of the day’s trading, total volume of stocks dipped by 25.49 per cent to 178.25 million units, valued at N1.93bn in 3,051 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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