Nigerian Exchange market indices up 0.10% in bullish trading

Nigerian Exchange market indices up 0.10% in bullish trading

The bullish run in the local bourse persisted on Thursday with the key market indicators increasing further by 0.10 per cent.

Consequently, the All-Share Index advanced by 39.15 points or 0.10 per cent to close at 39,210.10 from 39,170.95 recorded on Wednesday.

Accordingly, month-to-date gain increased to 2.0 per cent, while year-to-date loss moderated to 2.6 per cent.

The market capitalisation gained N21 billion to close at N20.437 trillion, in contrast with N20.416 trillion on Wednesday.

The market upturn was driven by price appreciation in large and medium capitalised stocks, amongst which are Unilever Nigeria, PZ Cussons, Vitafoam, Dangote Sugar Refinery and May and Baker.

The market breadth closed positive with 19 gainers against 15 laggards.

Linkage Assurance recorded the highest price to lead the gainers’ chart in percentage terms with 9.09 per cent to close at 60k per share.

PZ Cussons followed with 7.46 per cent to close at N6 per share.

May and Baker and Chams rose by five per cent each to close at N4.20 and 21k per share, respectively.

Unilever gained 4.96 per cent to close at N12.70 per share.

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On the other hand, Computer Warehouse Group led the losers’ chart in percentage terms by 9.60 per cent to close at N1.13 per share.

Consolidated Hallmark Insurance followed with 8.97 per cent to close at 71k, while Associated Bus Company lost 7.50 per cent to close at 37k per share.

Wapic Insurance dipped 6.78 per cent to close at 55k, while Mutual Benefit Assurance shed 6.52 per cent each to close at 43k per share.

However, the total volume of trades decreased by 12.8 per cent to 158.37 million shares valued at N2.24 billion exchanged in 3,330 deals.

It was against a turnover of 181.53 million shares worth N3.96 billion achieved in 3,217 deals on Wednesday.

Transactions in the shares of Zenith Bank topped the activity chart with 27.32 million shares valued at N629.22 million.

Sterling Bank followed with 22.02 million shares worth N35.09 million, while United Bank for Africa traded 21.69 million shares valued at N154.24 million.

Transcorp sold 9.15 million shares worth N8.15 million, while Chams transacted 8.32 million shares worth N1.68 million.

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