Investors record more gains at the exchange

Investors record more gains at the exchange

Investors at the
Nigerian Stock Exchange recorded additional gains at the close of
trading session on Thursday, as market-measuring parameters appreciated
by 1.01 per cent; making it the third day of consecutive upward trend.

The exchange market
capitalisation of the 194 first-tier equities closed yesterday at
N8.223 trillion after opening the day at N8.140 trillion, reflecting
N83 billion gains. About N152 billion has been gained in the last three
trading days.

Market watchers
attributed the market upward trend to the positive performance of some
blue chip stocks that continued to drive market activities up.

Analysts at
Proshare Nigeria, an investment advisory company, said they are
optimistic that market outlook in the coming weeks will be more
“profitable as the previous prolonged downtrend in the market has
provided ample of attractive opportunities across the sectors,” adding
that “transparent merger and recapitalisation in the banking sector
will also garner supporting momentum towards investing in capital

Low gainers

The number of
gainers at the end of trading session on Thursday closed lower at 28
compared with the 36 recorded on Wednesday, while losers closed higher
at 30 against the 22 recorded the previous trading day.

Dangote Cement and
Dangote Sugar topped the price gainers’ table with an increase of five
per cent and 4.98 per cent, to close at N127.32 and N14.33 per share,
respectively. International Breweries and CAP Plc followed on the
gainers’ table with an increase of 4.97 and 4.95 percent, to close at
N6.34 and N22.03 per share.

On the flip side,
Oceanic Bank and First Aluminium led the price losers’ chart with a
loss of five percent each, to close at N1.90 and 50 kobo per share.
Champion Breweries and Prestige Assurance followed on the losers’ chart
with a loss of 4.97 and 4.91 per cent, to close at N4.40 and N2.13 per

Active sectors

The banking
sub-sector led the most active sub-sectors’ chart with 219.986 million
volumes of shares, valued at over N1.850 billion. Volume in the
sub-sector was driven by First Bank, Zenith Bank and Unity Bank.

Trading activities
in the insurance sub-sector followed, with 29.992 million shares valued
at N20.269 million. Deals in shares of NEM Insurance, Continental
Reinsurance, and Goldlink Insurance boosted volume in this sub-sector.

The conglomerates
sub-sector was third in the chart with 17.501 million shares, valued at
over N156.905 million. Volume in the sub-sector was driven by
Transnational Corporation, PZ Cussons, and UAC Nigeria.

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