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The performance of
trading activities at the Nigerian Stock Exchange (NSE) on Thursday was
strengthened as market indices consolidated the marginal gains recorded
on Wednesday.

The NSE market
capitalisation of the 200 first-tier equities closed yesterday at N7.99
trillion after opening the day at N7.967 trillion, reflecting 0.29
percent upturn or over N22.82 billion gains.

The All-Share Index
also appreciated by 0.29 percent or a gain of 71.61 points on the
previous day’s figures of 24,996.14 basis units, to close at 25,067.75
units. The Exchange measuring parameters had, on Wednesday, appreciated
marginally by 0.09 percent.

Commenting on
Thursday’s trading performance, equity analysts at Proshare Nigeria
Limited, an investment advisory firm, said the market consolidated the
marginal gains “on heels of continued positive market sentiments,”
adding that more stocks are expected to “decamped to gainers’ camp with
positive market breath.”

Trading activities yesterday were more dominant in banking, insurance, conglomerate, and food/beverages subsectors.

Gainers increase

Four of the NSE
sectoral indexes closed positive at the close of trading as NSE-30,
which measures the performance of blue chips in the market, gained by
0.27 percent. The NSE Insurance gained the highest point by 1.45
percent, the Banking moved up by 0.51 percent, Food/Beverages up by
0.30 percent, while the NSE Oil/Gas sheds the highest point by 1.87
percent.

The number of
gainers at the close of trading session yesterday closed higher at 30
stocks, as against the 25 gainers recorded on Wednesday, while losers
closed lower at 20, compared with the 27 losers recorded the previous
trading day.

The Banking
subsector led the market transaction volume with 190.17 million units
valued at N1.49 billion, as against the 254.90 million units valued at
N2.02 billion recorded on Wednesday.

The volume recorded
in the subsector was driven by transaction in the shares of Zenith
Bank, United Bank for Africa, Guaranty Trust Bank, BankPHB, and Diamond
Bank. The total volume of 105.81 million units valued at N1.10 billion
traded in the shares of the five stocks accounted for 42.21percent of
the entire market volume.

The subsector also closed with 14 gainers to 5 losers, compared with 13 gainers to 6 losers recorded on Wednesday.

Financial results

Meanwhile, at the Exchange floor on Thursday, five companies presented their financial results.

Consolidated
Hallmark Insurance, in its first quarter report, posted a negative
gross premium of 7.1 percent and a negative Profit After Tax (PAT) of
35.0 percent. The company in its second quarter results also recorded
negative gross premium of 20.2 percent and negative PAT of 67.1 percent.

Access Bank, in its
third quarter results, recorded a positive PAT growth of 198.3 percent,
while it recorded negative gross earnings of 15.2 percent.