The Nigerian Stock Exchange (NSE) All Share Index (ASI) closed positively on Thursday, for the third consecutive day, as shades of green dominated the equity market. INTBREW sat at the top of gainers table with 10.00% rise in share price.
Also on the gainers table are GUARANTY (0.2%), STANBIC (1.47%), GLAXOSMITH (5.15%), CAP (5.56%), ACCESS ( 1.56%) among others.
Market capitalization rose by N18.062 billion to settle at N13.149 trillion, while ASI grew by 0.13% to close at 25,204.58.
The volume of shares traded was relatively unchanged, although the value rose by 64.42% due to increased level of activity in high value stocks such as NESTLE.
179,549,093 units of shares valued at N2,526,062,664.76 exchanged hands in 3,055 deals on Thursday, down from 180,010,447 units of shares worth N1,536,323,055.52 traded in 3,108 deals on Wednesday.
The most traded stock by volume was TRANSCORP with 35,478,532 units of stocks valued at N21,470,211.87 traded in 76 deals. In terms of value, NESTLE took the lead with 837,527 units of stocks worth N983,471,565.60 traded in 69 deals.
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Only one index under our watch declined, three appreciated with one closing flat on Thursday.
Insurance Index declined by 0.23% after three straight days of gain to close at 128.30, due to losses recorded by AIICO, REGALLINS etc.
Banking Index recorded a gain for the third day in row. The Index rose by 0.18% to close at 296.00, propelled by gains recorded in GUARANTY, ACCESS, STANBIC etc.
Consumer Goods Index extended its Wednesday gain further by 0.52% to close at 417.87, largely due to the 10% rise in INTBREW.
Oil and Gas Index closed flat at 186.55 for the second consecutive day. Whereas Industrial Goods Index rose for the first time this week after three days of decline. The Index rose by 0.03% to close at 1,112.22. The growth in the Index is largely attributed to the gain in CUTIX and CAP.
Investor sentiment strengthened to 1.54x, as 17 stocks advanced in prices while 11 declined, compared to 13 stocks which advanced on Wednesday with 13 declining in prices.
Top five gainers by percentage with the closing prices are; INTBREW (10.00%; N3.30), CUTIX (9.71%; N1.92), NEIMETH (9.55%; N1.95), LIVESTOCK (9.09%; N0.60) and FIDSON (6.74%; N3.96).
Top five decliners by percentage are; STUDPRESS (-9.60%; N1.79), UAC-PROP (-9.47%; N0.86), ABCTRANS (-8.51%; N0.43), ROYALEX (-7.14%; N0.26) and JAPAULOIL (-4.76%; N0.26)
STUDPRESS was the top gainer on Wednesday, having appreciated in price by the maximum 10.00% possible in each trading session.
Analysts’ view at Investogist; We maintain our negative outlook to the market in the short and medium term.