Bullish trend persist as market rises further by 0.79%, investors gain N106bn

The Nigerian stock market on Thursday closed on a positive note as the All Share Index grew further by 0.79% to settle at 25,987.14 points from the previous close of 25,783.02 points.

Investors gain N106 billion as market capitalisation appreciated by 0.79% to close at N13.581 trillion from the previous close of N13.475 trillion.

An aggregate of 359.3 million units of shares were traded in 3,576 deals, valued at N3.87 billion.

Market Breadth

The market breadth closed positive as 25 stocks gained while 7 stocks declined in their share prices.

Percentage Gainers

Nigerian Breweries led other percentage gainers with 10% growth, closing at N47.85 from the previous close of N43.50.

Union Diagnostics and Royal Exchange Plc among other gainers also grew their share prices by 8.00% and 7.41% respectively.

Percentage Losers

Ardova Plc led other price decliners as it shed 9.65% of its share price to close at N10.30 from the previous close of N11.40. This is followed by Daar Communications, shedding 9.09% of its share price to close at N0.30 from the previous close of N0.33.

Other price decliners include Wapic Insurance (-7.69%), Red Star Express (-7.69%), Unilever (5.56%), Neimeth Pharmaceuticals (1.05%) and CAP Plc (0.58%).

Volume Drivers

  • Sterling Bank Plc traded about 71.89 million units of its shares in 58 deals, valued at N83.41 million.
  • Guaranty Trust Bank Plc traded about 51.73 million units of its shares in 225 deals, valued at N1.346 billion.
  • Zenith Bank traded about 44.54 million units of its shares in 464 deals, valued at N759 million.

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