Sign in
Sign in
Recover your password.
A password will be e-mailed to you.
UMORU ABDULKADIR
While the market capitalisation grew by N65 billion or 0.51 per cent to close at N12.823 trillion as against N12.758 trillion recorded the preceding day, the All-Share Index which opened at 26,434.00 advanced by 135.80 basis points or 0.51 per cent to settle at 26,569.80 points.
A closer analysis of the market performance showed that Thursday’s bullish outlook was impacted by buy interest in medium and large capitalised stocks such as Presco, Nigerian Breweries, Guaranty Trust Bank, Dangote Sugar Refinery and Cadbury Nigeria, among others.
Consequently, the market breadth closed positive with 17 gainers led by Presco against 13 losers topped by Union Bank of Nigreria..
An analysis of the price movement table for Thursday shows that Presco led the best-performing stocks chart with 360 Kobo gain to close at N41.45 per share, followed by Nigerian Breweries which advanced by 145 Kobo to close at N52.70 per share. Guaranty Trust Bank inched up 100 kobo to close at N29 per share.
While Dangote Sugar nicked 90 kobo to close at N16, Cadbury added 85 kobo to close at N9.90 per share to complete the top five gainers’ table by value.
Conversely, Union Bank of Nigeria topped the worst-performing stocks when it depreciated by 30 kobo to close at N6.30 per share, Cutix followed with a loss of 14 kobo to close at N1.35. Unilever Nigeria declined by 10 kobo to close at N18.40 per share.
While Lafarge Africa dipped by 10 kobo to close at N13.50, Neimeth dropped 7 kobo to finish at N0.66k per share, among others.
A look at the activity chart shows that Union Dicon was most active stock on Thursday when it exchanged 186.990 million shares estimated at N41.139 million, followed by Fidelity Bank with a turnover of 19.75 million shares worth N40.9 million. Dangote Cement traded 12.32 million shares valued at N1.73 billion.
While Zenith Bank accounted for 10.85 million shares estimated at N201.7 million, United Bank for Africa sold 8.4 million shares worth N57.3 million.
The total volume of shares sold on the day advanced by 77.38 per cent with an exchange of 319.69 million shares valued at N3.07 billion in 2,503 deals as against 180.23 million shares worth N3.02 billion traded across 2,951 deals.
Commenting on today’s bullish outlook, an analyst at FSDH, Mr. Jide Solanke said the positive outlook will continue in the next trading session due to the positive sentiment from Investors.
BADEJO ADEMUYIWA has 23 years experience as a Finance Writer, specialising in Insurance and Investigative Reporting.
Next Post
Comments are closed.