Banking, Industrial Goods Lead As Stock Market Gains N15bn

The Nigeria stock market on Thursday closed marginally higher with a 0.13 per cent gain, halting the previous day’s negative sentiment. This followed bargain hunting on mostly banking and industrial goods sectors.

The market breadth closed positive, recording 24 gainers against eight losers.

Consequently, the All-Share Index appreciated by 27.99 basis points or 0.13 per cent to close at 21,757.47 index points as against 21.727.48 recorded the previous trading session.

Market capitalisation of equities grew by N15bn from N11.32tn the previous day to N11.34tn as market sentiment returned to the positive territory.

Meanwhile, a turnover of 172.2 million shares exchanged in 3,542 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); with 82 million shares exchanged by investors in 1,622 deals.

Volume in the sub-sector was largely driven by activities in the shares of UBA Plc and Zenith Bank Plc.

Also, the banking sub-sector received a boost by the activities in the shares of GTBank Plc and Fidelity Bank Plc followed with a turnover of 29.8 million shares in 878 deals.

Further analysis of the day’s trading showed that in percentage terms, Morison Nigeria Plc, UCAP Plc and UBN Plc topped the day’s gainers’ table with 10 per cent each to close at 55 kobo, N2.20 and N6.60 per share respectively.

Transcorp Plc followed with 9.84 per cent to close at 67 kobo per share. Access Bank Plc added 9.82 per cent to close at N6.15 per share.

On the flip side, Nestle Nigeria Plc led the losers’ with a drop of 10 per cent to close at N765 per share while GSK Plc shed 9.89 per cent to close at N3.50 per share. Julius Berger Nigeria Plc trailed with 7.17 per cent to close at N22.00 per share.