The Nigerian Bourse extended gains from the previous session as the All Share Index rose 1.03 percent to close at 42,604.40 points while year-to-date (YTD) return expanded to 11.40 percent on Thursday.
As a result, investors gained about N156billion as market capitalisation advanced to N15.289trillion.
Trading activities were upbeat as volume and value traded grew 18.13 percent and 33 percent to settle at 615.79 million units and N6.275 billion respectively.
Sector performance was largely positive as all indices trended northwards but for one which closed flat.
The NSE Banking Sector index extends bullish sentiment, closed by 131 basis points, as buying pressures were witnessed on counters such as; ZENITHBANK (+0.48%) and FBNH (+8.23%). However, stocks like DIAMOND (-0.34%), JAIZBANK (-2.78%), and UNITYBNK (-5.52%) closed weak in the day.
Industrial goods index which advanced 0.89% at the end of the session was helped by the stronger bids on some medium and large cap stocks like DANGCEM and WAPCO. Stocks like CAP and FIRSTALUM however recorded losses on the same ticker.
The NSE Consumer Goods and Oil and Gas sectors indices advanced by 0.83% and 0.01%, while the NSE Insurance sector index closed flat at 154.93 pts.
29 stocks closed positive against 24 that lost, as the market breadth closed firmer breeding hopes of a sustained bullish reversal.
FBNH led other percentage gainers closing 8.23% above the previous close of N11.55, to settle at N12.50, wapic grew 6.25% and Cutix grew 5% ahead other stocks like May&Baker, Dangsugar, Berger, UBA several others.
On the other side, Caverton tops the losers’ chart losing 8.77% of its share price, while Courtville and Firstalum both shed 8.7 and 7.5% respectively.
FBNH by absolute performance emerged the best stock for the day trading 39.4million units of its shares in 568 deals, worth about N499million within the review session.
Nigerian breweries reported also in the day that upon approval by the shareholders, the company would pay N3.13 per share as dividend, to be marked down on the 7th of March, 2018 and payment date on the 23rd of April 2018.
Note, qualification date is March 6th 2018.