Bulls tighten hold as stocks rise by 0.13%

The All-Share Index of the Nigerian Exchange Limited rose by 0.13 per cent to close at 38,615.11, amid sustained bargain hunting activity on Thursday.

The market capitalisation also advanced to close at N20.13tn, as investors further gained N26.31bn.

While the year-to-date loss of the ASI fell to -4.11 per cent, 18 companies’ stocks gained against eight stocks that declined.

Both mid and large capitalised stocks such as Nigerian Breweries, UAC of Nigeria, Guaranty Trust Bank, Wapic Insurance and Zenith Bank were the toast of investors, as their respective share prices rose by 1.20 per cent, 1.57 per cent, 1.78 per cent, 0.43 per cent and 9.43 per cent.

Sectoral performance was positive as three out of the five indices tracked closed in the green zone.

The banking, insurance and consumer goods indices rose by 0.81 per cent, 1.01 per cent and 0.18 per cent respectively.

While the industrial index fell by 0.02 per cent, the oil and gas index closed flat.

Trading activity was weak as total deals, volume and value of stock traded fell, thus at the close of the day’s, the total volume of stocks fell by 47 per cent to 160.43 million units, valued at N1.395bn in 3,260 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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