Investors Gain N98b as Index Adds 283.49 Points

By Modupe Gbadeyanka

Equity market in Nigeria closed on Thursday on a bullish note, with the major market indicators pointing north.

The All-Share Index (ASI) increased by 283.49 absolute points or 1.11 percent to finish at 25,755.18 absolute points, while the market capitalisation progressed by N98.1 billion to end at N8,912 trillion and the year-to-date (YTD) Return closing for the day at -4.17 percent.

There was a surge in the volume of shares transacted on the floor of the Nigerian Stock Exchange (NSE) today compared with the previous day.

While a total of 241.6 million shares exchanged hands on Thursday in 3,339 deals at N1.5 billion, investors traded 158.7 million shares on Wednesday valued at N1.2 billion in 3,048 deals.

The market breadth close positive with 19 stocks appreciating at the close of activities in contrast to 17 stocks that depreciated.

Business Post correspondent reports that Mobil Plc continued its impressive performance at the market today, leading the top gainers’ chart for the second day in a row by adding N12.72k to close at N360 per share.

It was closely followed by 7up, which increased by N9.1k to end at N104.90k per share, while Dangote Cement came third with a rise of N3.50k to finish at N164.60k per share.

Lafarge advanced by N2.38k to close at N50 per share, while GTBank went up by 50k to wrap the day at N25 per share.

On the losers’ log, ConOil depreciated by N1.75k to finish at N33.25k per share, Nigerian Breweries declined by 17k to end at N124.63k per share and Access Bank went down by 13k to close at N6.28k per share.

International Breweries fell by 11k to end at N15.89k per share, while Red Star Express also slumped by 11k to finish at N4.30k per share.