The stock market closed on a positive note on Thursday, lifting the major market indicators for the third straight session.
At the end of the day’s activities, the Nigerian Stock Exchange (NSE) All Share Index rose by 0.64 per cent to close at 42,612.33 basis points, an improvement on Wednesday’s 0.11 per cent appreciation, which helped the index to close at 42,339.84 basis points.
The market capitalisation of the listed equities also appreciated by 0.64 per cent to close at N14.070tn as against the N15bn or 0.11 per cent gain which saw it close at N13.980tn in the previous session.
Also, the NSE 30 Index, which tracks the performance of the 30 most capitalised companies on the Exchange, gained 0.62 per cent to close at 1,948.52 basis points.
A review of the sectoral indices showed that the NSE Oil and Gas Index was Thursday’s best performing indices with the NSE Insurance Index putting in the worst performance.
While the oil and gas index rose by 2.33 per cent from 473.36 basis points to close at 484.37 basis points, the insurance index fell by 2.24 per cent to close at 144.52 basis points, down from 146.35 basis points.
A total of 34 stocks recorded price appreciation on Thursday, while 18 others recorded price depreciation. On Wednesday, 19 equities had witnessed price appreciation with twice that number, 38, making losses.
Conoil Plc topped the gainers, rising by 10.24 or N6.38 to close at N68.70 per share.
Union Bank of Nigeria and ABC Transport Plc gained five per cent and 4.88 per cent to close at N8.61 and 86 kobo per share, respectively, while Northern Nigeria Flour Mills Plc advanced by 4.82 per cent or 95 kobo to close at N20.65 per share.
On the other hand, DN Meyer Plc topped the losers after it fell by 4.35 per cent or five kobo to close at N1.10 per share.
It was followed by Eterna Plc and Continental Reinsurance Plc, which shed 4.32 per cent and 3.85 per cent to close at N3.99 and N1 per share in that order.
In all, 201.385 million shares valued at N3.013bn were traded in 4,637 deals on Thursday, compared to the 323.913 million shares worth N4.874bn exchanged by investors in 5,736 deals the previous day. – Punch.
