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Investors at the Nigerian Stock Exchange (NSE) on Thursday
recorded additional gains on their equities’ value, as market closed trading on
a positive note.

The Exchange market capitalisation of the 201 First-Tier
equities closed yesterday at N8.630 trillion after opening the day at N8.471
trillion, reflecting 1.87 per cent upturn or over N159 billion gains. The
market had gained N120 billion at the close of trading session on Wednesday.

Meanwhile, market watchers said the current political concerns
should not affect investors’ sentiment in the market.

Analysts at Renaissance Capital, an investment bank, said the
stock market will be resilient during the political period.

“In the past, the NSE’s performance has been resilient to
significant political and security events. Notable political events, including
the hand-over from military to civilian rule in 1999 and the first civilian
elections in 2003, did not mar the performance of the NSE.

“We believe that concerns over the political landscape have been
slightly exaggerated and may present buying opportunities,” they said.

Instead, they further said, there are great opportunities “in
all the major sectors of the NSE, including banking, consumer and building
materials and agriculture.”

High gainers

At the close of trading on Thursday, the number of gainers
closed higher at 52 stocks as against the 47 gainers recorded previous session;
while losers also closed higher at 23 stocks when compared with the 21 losers
recorded on Wednesday.

Nigerian Breweries and Dangote Cement topped the price gainers’
table with an increase of N4.14 and N3.52 respectively to close at N87.08 and
N130.02 per share. Oando Oil and Flour Mill followed in the chart with an
increase of N3.22 and N2.00, to close at N76.26 and N74.00 per share.

On the losers’ side, Total Nigeria and Nigerian Aviation
Handling Company led the price losers’ chart with a decline of N2.00 and 21
kobo, to close at N232.00 and N10.79 per share respectively. Vono Products and
Nampak Nigeria followed with a decline of 17 kobo each to close at the N3.32
and N3.85 per share.

Active subsector

The Banking subsector led the market transaction volume on
Thursday with 411.524 million units valued at N3.817 billion, as against the
492.883 million units valued at N4.706 billion recorded on Wednesday. The
volume recorded in the subsector was driven by transaction in the shares of
Zenith Bank, First Bank, Afribank, Finbank, and Oceanic Bank.

The Mortgage Companies subsector followed in the chart with
44.317 million shares worth N23.666 million. Resort Savings & Loans largely
boosted the subsector’s volume, followed by Union Homes Savings & Loans and
Aso Savings & Loans.

Trading activities in the Foreign Listings subsector was third
highest yesterday, with 34.441 million shares valued at N549.619 million.

Volume in the subsector was boosted by deals in shares of
Ecobank Transnational Incorporation, the only traded stock in the subsector
yesterday.