Nigerian Stock Market Halts Bearish Trend, Up 0.62%

By ABDULKADIR UMORU

The Nigerian equities market appreciated by 0.62 per cent on Thursday,
halting the previous day’s loss as gains by medium and large
capitalized stocks impacted the market positively.

The All Share Index gained 180.93 basis points or 0.62 per cent to
close at 29, 517.73points compared with the 29, 336.80 points recorded
trading previous day while the Market Capitalisation added N68 billion
or 0.62 per cent to close at N11.0 trillion as against N10.9 trillion
achieved the previous day.

The upturn was largely influenced by appreciation in Julius Berger
Nigeria (9.86%), Guaranty Trust Bank (6.07%) Dangote Cement (0.88%)
and Forte Oil (5.46%).

Julius Berger Nigeria led the top five gainers’ table, adding 255 kobo
to close at N28.40 per share, followed by Guaranty Trust Banka with a
gain of 190 kobo to close at N33.20 per share, Dangote Cement went up
by 150 kobo to close trading at N171.50 per share, Forte Oil inched
145 kobo to close at N28 per share while Cement Company of Northen
Nigeria appreciated by 90 kobo to close at N19.45, among others.

Equally, Nestle Nigeria led the Losers’ table with a loss of N48.90 to
close at N1401.10 per share, trailed by Guinness Nigeria which shed
700 kobo to close at N63 per share, Okomu Oil lost 175 kobo to close
trading at N82 per share, Access Bank dipped 20 kobo to close at N5.30
per share, while NEM Insurance Plc depreciated by 19 kobo to close at
N1.72 per share, among others.

The top traded stocks by volume were Custodian Investment Plc (120.27m
units), Access Bank (60.48m units) and FBN Holdings (48.87m units)
while Custodian Investment Plc (N697.61m), FBN Holdings (N347.24m) and
Access Bank (N317.38m) were the top traded stocks by value.