NSE sustains positive momentum with 0.10% growth

The Nigerian Stock Exchange (NSE) on Thursday sustained positive momentum with a growth of 0.10 per cent.

Specifically, the All Share Index inched higher by 34.00 points or 0.10 per cent to close at 34,803.00 from 34,769.00 posted on Wednesday.

Similarly, the market capitalisation which opened at N18.166 trillion rose by N18 billion or 0.10 per cent to close at N18.184 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Mobil, Guinness, Guaranty Trust Bank, Cadbury and International Breweries.

Analysts at Afrinvest Limited said: “Following three consecutive days of positive performance, we envisage investors will take profit in the next trading session.

However, we expect the equities market to close in the green for the week.”

NCR and UPDC Real Estate Investment Trust led the gainers’ chart in percentage terms, gaining 10 per cent each to close at N1.98 and N5.50 per share, respectively.

Mobil followed with 9.89 per cent to close at N208.80 per share.

Neimeth International Pharmaceuticals improved by 9.79 per cent to close at N2.58, while International Breweries chalked up 9.62 per cent to close at N7.18 per share.


Conversely, Royal Exchange dominated the losers’ chart in percentage terms losing 7.69 per cent to close at 24k per share.

Union Diagnostic & Clinical Services followed 7.41 per cent, to close at 25 kobo, while Africa Prudential shed 5.76 per cent to close at N5.89 per share.

Union Bank of Nigeria shed 5.17 per cent to close at N5.50, while Fidelity Bank depreciated by 5.11 per cent to close at N2.60 per share.

However, the total volume of shares traded decreased by 40.78 per cent as investors bought and sold 257.56 million shares worth N3.53 billion in 5,407 deals.

This was against a turnover of 434.92 million shares valued at N6.91billion exchanged in 7,029 deals on Wednesday.

Transactions in the shares of Zenith Bank topped the activity chart with 40.58 million shares worth N999.27 million.

Transcorp trailed with 23.23 million shares valued at N23.26 million, while Access Bank traded 20.93 million shares valued at N180.18 million.

United Bank for Africa sold 18.02 million shares worth N150.84 million, while Sterling Bank transacted 16.35 million shares valued at N31.99 million.