Nigeria capital market recovers, records 0.33% growth

Trading on the Nigerian Stock Exchange (NSE) on Thursday closed on a positive note after dropping for six consecutive days, with the All-Share improving by 0.33 per cent.

Our correspondent reports that the index rose by 138.36 points or 0.33 per cent to close at 41,633.79, against 41,495.43 achieved on Wednesday.

Also, the market capitalisation which opened at N14.844 trillion inched N196 billion to close at N15.040 trillion.

Mobil Oil recorded the highest price gain to lead the gainers’ table, growing by N7.70 to close at N184 per share.

GlaxosmithKline followed with a gain of N2.25 to close at N24.30, while Nigerian Breweries appreciated by N1.90 to close at N127.90 per share.

PZ Industries inched 60k to close at N23, while Cadbury advanced by 60k to close at N13.25 per share.

On the other hand, Access Bank topped the losers’ chart, shedding 65k to close at N11.10 per share.

Dangote Sugar trailed with a loss of 30k to close at N20.50, while Africa Prudential Registrar depreciated by 20k to close at N4.12 per share.

Honeywell Flour was down by 12k to close at N2.38, while C&I Leasing dropped by 10k to close at N1.90 per share.

Similarly, the volume of shares traded rose by 10.92 per cent as investors bought and sold 542.35 million shares valued at N7.35 billion transacted in 5,039 deals.

This was against the 488.97 million shares worth N5.64 billion traded in 5,524 deals on Wednesday.

Access Bank of the banking sub-sector was the investors’ delight in volume terms, exchanging 126.01 million shares worth N1.39 billion.

Zenith International Bank followed with an account of 67.27 million shares valued at N1.92 billion, while Guaranty Trust Bank traded 51.84 million shares worth N2.34 billion.

FBN Holdings sold 32.82 million shares valued at N394.25 million, while United Bank for Africa traded 29.50 million shares worth N342.28 million.