Stock market advances by 1.10% as heavy weight stocks rally

The Nigerian stock market on Thursday closed on a bullish note, occasioned by gains in share prices of BUA Cement, Airtel and MTN by 6.12%, 1.32% and 1.16% respectively.

The All Share Index appreciated by 1.10%% to close at 41,704.11 points from the previous close of 41,144.67 points.  

Investors gained N238 billion as the Market Capitalisation appreciated by 1.11% to close at N21.764 trillion from the previous close of N21.526 trillion.

An aggregate of 216.19 million units of shares were traded in 4,272 deals, valued at N3.38 billion.

The Market Breadth closed positive as 23 equities emerged as gainers against 19 equities that declined in their share prices.

Percentage Gainers

Cutix Plc led other gainers with 10% growth to close at N5.50 from the previous close of N5.

NGX Group, Consolidated Hallmark Insurance, Nigerian Breweries and BUA Cement among other gainers also grew their share prices by 9.79%, 9.09%, 7.41% and 6.12% respectively.

Percentage Losers

The Initiate Plc led other price decliners as it sheds 8.51% of its share price to close at N0.43 from the previous close of N0.47.

Neimeth and Universal Insurance among other price decliners also shed their share prices by 4.86% and 4.76% respectively.  

Volume Drivers

FBNH traded about 51.92 million units of its shares in 454 deals, valued at N628.33 million.

Ecobank traded about 20.02 million units of its shares in 106 deals, valued at N143.69 million.

Transcorp traded about 14.65 million units of its shares in 128 deals, valued at N14.97 million.

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