Appreciation in the shares of high capitalised stocks, especially Dangote Cement’s, swayed the equities market northward, as the All-Share Index (ASI) of the Nigerian Stock Exchange (NSE) inclined by 1.40 per cent.
The ASI closed 1.40 per cent upward at 24,512.27 basis points on Thursday from 24,173.53 basis points recorded in the previous session. Year-to-Date Return stood at -8.68 per cent at the close of trading session pushing the market capitalization by N177 billion at N12.787 trillion.
However, Market breadth closed in favour of bears with 10 stocks in the gainers’ chart against 11 decliners.
Dangote Cement led the gainers’ chart having appreciated by ten per cent, followed by Jaiz Bank, African Prudential, Sterling Bank and Mansard Insurance. Conversely, Neimeth Pharmaceuticals, Mutual Benefit, BUA Cement, Dangote Sugar and Caverton led the decliners chart.
Market Activity dropped from the previous level as the volume of trades recorded 164 million units as against 402 million shares traded in the previous trading session, amounting to 59.20 per cent. Value of traded shares followed suit to record a total of N2.125 billion, a 52.32 per cent decline from the previous value of N4.55 billion.
FBN Holdings, Custodian Insurance, Zenith Bank, Guaranty Trust Bank and United Bank for Africa ended the trading day as top performers in terms of volume, while Dangote Cement, MTN Nigeria, Zenith Bank Bank, Guaranty Trust Bank and FBN Holdings made up the top five performers in terms of the value of units traded.
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