Investors gain N32.6bn as market maintains upward trend
Benchmark indices of the stock market sustained upward trend for the fourth consecutive session on Thursday with a growth of 0.35 percent.
The All-Share Index (ASI) added 94.68 points to close at 26,782.93 from 26,688.25, while market capitalization grew N32.6 billion to close N9.215 trillion fromWednesday’s N9.183 trillion.
Market breadth remained positive with 24 gainers against 20 losers. Nigerian Aviation Handling Company of Nigeria led the gainers with 8.96 percent to close at N3.04. Law Union & Rock followed with a growth of 8.82 percent to close at 74 kobo, while AIICO Insurance added 6.78 percent to close at 63 kobo. Guaranty Trust Bank (GTB) added 5.77 percent to close at N24.74, while Livestock feeds appreciated 5 percent to close at 84 kobo per share.
On the flip side, Forte Oil recorded a 9.72 percent decline to lead the losers’ chart having closed at N93.54. Unity Bank dropped 5 percent to close at 57 kobo, Champion Breweries fell 4.80 percent to close at N2.38, Air Service depreciated 4.71 percent to close at N2.43, and Omoluabi Savings Microfinance Bank lost 4.55 percent to close at 84 kobo.
The transactions in 2,392 deals showed investors moved 117.4 million shares, a decline of 11 percent from 131.7 million in the previous session, while value traded dropped 27 percent to N877.6 million, from N1.2 billion.
The Banking Index led seven others with a 2.2 percent growth due to bargain hunting in Guaranty Trust Bank that added 5.77 percent, Union Bank that added 3.68 percent and Zenith Bank that appreciated 1.36 percent.
The Insurance index followed by 1.8 percent on account of in AIICO Insurance that grew by 6.78 percent, Axamansard that added 4.91 percent, and Wapic Insurance that appreciated 4 percent.
On the contrary, Omoluabi Savings Microfinance Bank’s decline of 4.55 percent, plunged the NSE Alternative Securities Market (ASeM) by 2.2 percent to record the highest loss for the day. The Oil and Gas Index followed with a depreciation of 0.5 percent as Forte Oil, Oando, Mobil, dropped 9.72, 0.87 and 0.68 percent respectively from profit taking.
Top traded stocks were FCMB with 12.8 million shares valued at N13.9 million. Zenith Bank followed with 11.8 million units worth N174.2 million, while FBN Holdings traded 11.6 million shares for N40.3 million.
GTB exchanged 10.1 million shares valued at N249.2 million, and Diamond Bank emerged the top fifth traded stock with 9.2 million shares worth N8.2 million.
