The local stock market reversed previous day’s loss, as investors’ interest in MTN Nigeria Communication pushed the All-Share Index 0.99 percent higher to 74,502.58 basis points.
Consequently, the Month-to-Date and Year-to-Date returns increased to +4.4 percent and +45.4 percent, respectively.
As a result of the bullish trading outing at the Nigerian Exchange Limited (NGX) on Thursday, equities investors earned N401.63 billion as the market capitalisation closed at N40.77 trillion.
Also interests in Zenith Bank and Stanbic IBTC Holdings pushed the broader index into positive terrain as these stocks value appreciated by 0.53 percent and 8.20 percent, respectively.
As measured by market breadth, market sentiment was positive, as 34 tickers gained relative to 27 losers.
On the performance board, Ikeja Hotel and Multiverse topped the gainers’ list having appreciated in share prices by 10.0 percent, respectively, while UACN and John Holt recorded the highest losses of the day after their respective share prices dipped by 10.0 percent and 9.7 percent, respectively.
Sectoral performance remained positive as the Insurance, Consumer Goods, Oil/Gas and Industrial indexes experienced gains of 2.07 percent, 0.11 percent, 0.02 percent and 1.10 percent, respectively. The Banking sector was the only laggard as it declined by 0.22 percent.
However, analysis of market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 56.20 percent.
A total of 384.58 million shares valued at N5.67 billion were exchanged in 8,336 deals. Jaiz Bank led the volume chart with 49.40 million units traded while Zenith Bank led the value chart with deals worth N1.06 billion.
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