Nigerian stock market gains N13.5bn

Nigerian stock market sustained a winning streak on Thursday to record two consecutive sessions of gains.

The All-Share Index advanced by 0.07 per cent to close at 38,799.83 basis points.

The market capitalisation also rose by 0.07 per cent to close at N20.30bn as investors gained N13.5bn.

Amid bargain hunting activity, 13 stocks advanced while 12 declined.

The year-to-date loss of the NSE ASI fell to -3.65 per cent.

Tier-1 banks’ stocks were the toast of investors, as the share prices of Zenith Bank, Guaranty Trust Bank, Access Bank and United Bank for Africa rose by 3.81 per cent, 2.68 per cent, 1.90 per cent and 0.72 per cent respectively.

Sectoral performance was bullish also, as three of the five indices tracked closed in the green territory.

The banking, insurance and oil and gas indices rose by 2.19 per cent, 0.60 per cent and 0.40 per cent respectively.

While the consumer goods index fell by 0.20 per cent, the industrial index closed flat.

Trading activity was weak, as total deals, volume and value of stocks traded fell. The total volume of trade moderated by 59.23 per cent to 145.33 million units valued at N1.58bn in 3,525 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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