Nigerian stocks bullish as ASI rises by 0.17%

The All-Share Index of the Nigerian Exchange Limited rose by 0.17 per cent to close at 38,548.24 points on Thursday, as the bulls sustained hold on the market.

Investors gained N34.25bn as the market capitalisation also advanced to close at N20.09tn.

While the year-to-date loss of the ASI moderated to -4.27 per cent, the market recorded 17 gainers and 15 losers.

Sentiment remained positive in the market as middle and large capitalised stocks such as MTN Nigeria Communications, Zenith Bank, Flour Mills of Nigeria and Lafarge Africa enjoyed investors patronage, as their share prices increased by 1.48 per cent, 0.22 per cent, 1.06 per cent and 0.49 per cent.

Of the five indices tracked, four closed in positive territory except for the banking index which moderated by 0.50 per cent.

The insurance, consumer goods, oil and gas and industrial indices rose by 0.06 per cent, 0.23 per cent, 0.05 per cent and 0.01 per cent respectively.

At the close of the day’s trading, the total volume of stocks rose by 59.13 per cent to 249.68 million units, valued at N1.88bn in 3,524 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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