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Nigerian stock market advances by 0.1%

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The domestic bourse again on Thursday extended its positive trading, as the All-Share Index advanced by 61 points or 0.1 per cent to close at 46.965.48 against 46.904.48 recorded on Wednesday.

The market capitalisation also inched higher by N32.87 billion or 0.1 per cent to close at N25. 311 trillion from N25.279 trillion on Wednesday.

Consequently, the month-to-date loss moderated to 0.09 per cent, while the year-to-date gain increased by 10 per cent.

The market gain was driven by price appreciation in large and medium capitalised stocks amongst which are: MTN (Nigeria), First Bank of Nigeria Holdings (FBNH), Okumu Oil and Fidelity Bank.

Analysing by sectors, the Consumer Goods and banking indices declined by 1.6 per cent and 1.3 per cent respectively.

Also, the Insurance index recorded by 0.5 per cent, making it the gainer of the day. The Industrial Goods and Oil and Gas indices closed flat.

As measured by market breadth, market sentiment was negative as 29 stocks lost relative to 14 gainers.

Meyer Pharmaceutical topped the gainers’ chart in percentage terms by 10 per cent to close at 66k per share.

Mansard followed with 9.72 per cent to close at 2.37k, while FBNH went up by 6.9 per cent to close at N12.40 per share.

Courtville rose by 5.66 per cent to close at 56k, while Okumuoil appreciated by 4.32 per cent to close at N149.70 per share.

Conversely, Northern Nigeria Flour Mills Plc (NNFM) led the losers’ chart in percentage terms by 10 per cent to close at N9 per share.

Neimeth recorded 9.55 per cent loss to close at N1.42, while Beger declined by 9.33 per cent to close at N6.80 per share.

RTBriscoece shed 9.23per cent to close at 59k, while Nigerian Breweries depreciated by 9.10 per cent to close at N40.45 per share.

NNFM topped the activity chart with 667,916 shares valued N6.07 million.

Neimeth followed with 300.563 shares worth N433,420.56 while Berger traded N2.06 million shares valued N14.09 million.

RTBriscoe sold 278,017 shares valued N164,934.59, while Nigerian Beweries transacted 778,153 shares worth N32.14 million.

In all, the total volume of trades increased to 256.02 million units valued N3.66 billion exchanged in 4,227 deals.

This is against a turnover of 201.28 million shares worth N2.63 billion transacted in 4,017 deals on Tuesday.

Olawunmi Ashafa

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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