GBOLABO AFUWAPE
Nigeria’s stock market closed Thursday’s trading session marginally flat as Central Bank of Nigeria (CBN)’s Monetary Policy Committee (MPC) meeting retained its monetary policy rates (MPR)s for the 14th consecutive time.
Market players spent most of the day’s session in enlarging their portfolio as they took position in stocks of various firms that are capable of generating good returns basically in the short and medium term.
Despite the huge funds injection recorded in the day, the 1.18 percent drop in the price of Nigerian Breweries almost totally eclipsed the positive performances which some other stocks garnered.
The bourse gained 14.81 points which equates to N5 billion to bring about the 0.05 percent growth as the all share index closed at 31,984.60 points while the market capitalization closed at N11.677 trillion.
The market recorded reduced deals as the total deals declined by 27.48 percent to come to 2,436. Aggregate volume however, grew quite exponentially, by 182.89 percent to close at 672.560 million equities.
Aggregate value grew even more exponentially by 334.37 percent toN15.216 billion.
The stock of Zenith bank which spent about 90 percent of the day’s session flat on N24, recorded the most volume and value turnover. The 605.542 million equities that the stock recorded accounted for 90.04 percent of the bourse’ aggregate volume while N14.533 billion, the total value that exchanged hands for its stock accounted for 95.51 percent of the bourse’ aggregate value turnover. The stock gained 15kobo which represents 0.62 percent growth to close at N24.15.
The other highly traded stocks were those of Transcorp and First bank of Nigeria Holdings (FBNH).
Those of FBNH with 193 trades, Guaranty Trust bank 187 trades with and Zenith bank with176 trades recorded the most deals while those of Nigerian breweries and Guaranty Trust bank recorded the most value turnovers.
Market breadth closed positive with 16 stocks led by Flour Mill Plc, Chi Plc and Union Diagnostics grew in prices against 13 stocks led by Ikeja hotel, Jaiz bank and Law Union that declined in prices.
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