Nigerian stocks rose 0.56 per cent on Thursday, breaking off a spell of loss-making that has held the market for nearly two weeks in a climb that saw shares regain all the grounds lost at the previous session.
Sector heavyweights including Seplat, Nestle and Dangote Cement led the comeback, hoped to set up a healing process for a bruised investor confidence that has kept activity at low ebb for days.
Nigeria’s biggest energy company by market value Seplat, listed in Lagos as well as on London Stock Exchange, has fixed the exchange rate for its interim dividend in naira and pound, while Dangote Cement announced its aspiration to restart its share buyback soon, both developments pushing up demand for their shares and strengthening gains.
The insurance index progressed faster than the rest four sectorial indexes tracked by the exchange, moving 2.50 per cent to 205.43 basis points.
Market breadth was negative with 31 gainers emerging against 14 losers.
The benchmark index garnered 212.37 basis points, to close at 40,154.09 index points, while market capitalisation increased by N110 billion to N19.940 trillion.
The index has dropped by 5 per cent since January.
TOP 5 GAINERS
Ikeja Hotel led gainers, appreciating by 10 per cent to close at N1.10. Royal Exchange added 9.46 per cent to end trade at N0.81. Neimeth advanced by 9.30 per cent to N1.88. Japaul rose to N0.59, notching up 9.26 per cent. Mutual Benefits completed the top 5, climbing up by 9.09 to N0.48.
TOP FIVE LOSERS
Academy topped the losers’ chart, diving by 8.33 per cent to close at N0.33. Lasaco shed 7.69 per cent to end today’s trade at N1.44. John Holt fell to N0.63, losing 7.35 per cent. Presco slumped to N75.90, recording 3.80 per cent depreciation. BUA Cement closed at N72, going down by 3.03 per cent.
TOP FIVE TRADES
In all, 228.674 million shares valued at N3.671 billion were traded in 3,318 deals.
GTB traded 46.327 million shares worth N1.300 billion in 311 deals. Zenith Bank’s shares of 20.242 million units, valued at N465.492 million, exchanged hands in 306 trades. Transcorp had 20.159 million shares valued at N17.852 million traded in 81 deals.
Fidelity traded 17.543 million shares estimated at N39.270 million in 128 transactions. Mutual Benefits traded 12.911 million shares valued at N6.041 million in 68 deals.
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