Bulls sustain hold on Nigeria’s stock market

Amid sustained bullish activity, the Nigerian stock market on Thursday advanced for the second consecutive trading session.

The All-Share Index increased by 0.53 per cent to 39,085.78 points as well as the market capitalisation, which also advanced by 0.53 per cent to close at N20.56tn.

At the close of the day’s trading, investors gained N108.49bn. While 26 stocks rose against 13 stocks that declined, the year-to-date loss of the ASI lowered to -2.42 per cent.

Buying pressure on blue chip stocks such as Stanbic IBTC Holdings, MTN Nigeria Communications, Lafarge Africa, Guaranty Trust Bank and Access Bank pushed their respective prices higher by 9.18 per cent, 1.24 per cent, 1.20 per cent, 0.48 per cent and 1.22 per cent.

Of the five indices tracked, three closed in the green zone.

The banking, insurance and industrial indices rose by 0.60 per cent, 0.81 per cent and 0.07 per cent respectively, while the consumer goods and oil and gas indices moderated by 0.24 per cent and 0.05 per cent respectively.

Trading activity was weak as total deals, volume and value of stocks traded fell.

At the close of the day’s trading, the total volume of trade declined by 36.61 per cent to 229.41 million units valued at N3.78bn in 4,016 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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