Equities market adds N790bn in 3 days as GSK lead gainers

 Trading on the Nigerian Stock Exchange (NSE) continued its gaining spree on Thursday as blue chips stocks kept increasing in value.

All Share Index (ASI) of the Nigerian Bourse hit 31,000 points as it appreciated by 3.31 per cent to close at 31,071.25 basis points, to complement the 2.40 per cent appreciation recorded on Wednesday. With this feat, ASI Year-to-Date (YTD) returns stands at +8.48 per cent, while its one year return is at -2.09 per cent.

At the end of Thursday equities trading, market capitalisation added N321 billion to close at N10.7 trillion as against N10.4 trillion recorded at the end of Wednesday session.

However, market turnover closed negative as volume declined by 16.86 per cent against 1.60 per cent uptick recorded in the previous session, as investors traded 450.5 million shares.

On the other hand market breadth remained positive as 37 gainers were recorded against 12 losers, an improved performance when compared with previous day outlook of 34 gainers versus 17 losers.

Glaxo Smithkline Nigeria Plc led the gainers by 10.21 per cent for the third consecutive day, having improved it’s share value with N1.86 kobo to close at N20.07 kobo as against N18.21 kobo it traded.

On the other hand, NPF Microfinance Bank took the lead of the losers, as it’s stocks depreciated by 4.88 per cent to close at N1.17 kobo against N1.23 kobo it opened with.

Transnational Corporation Plc, United Bank for Africa Plc and Zenith Bank Plc were the most active to boost market turnover, while Nestlé Nigeria Plc  and Zenith Bank Plc top market value list.

MRS leads the list of active stocks that recorded impressive volume spike as it traded 119,973 shares in 23 deals.

At the end of trading session on Thursday, 450.5 million shares worth N5.7 billion exchanged hands in 6,360 deals. ‎