Nigerian stocks were back on the track of recovery on Thursday after three days of loss as the benchmark index rose 0.40 per cent in a comeback led by Guaranty Trust Holding Company (formerly GTB), Zenith and BUA Cement, even though liquidity remained subdued.
Nigeria’s biggest bank by market value, GTB, began trading under a new name, Guaranty Trust Holding Company, on completion of its transition to a holdco, starting the journey on an auspicious note after trading up by 1.58 per cent or N0.45
Strengthening gains, the industrial index was up 0.88 per cent, the biggest advance seen among the five sector indexes tracked by the bourse.
Market breadth, an indicator of investor sentiment, was positive, with 20 gainers reported compared to 14 laggards.
“In the last trading session, we suspect that profit taking may dominate the local bourse”, broker and investment bank Afrinvest said ahead of Friday trade.
The all-share index closed at 37,954.35 points, while market capitalisation lifted to N19.781 trillion.
Year to date, the index is down by 5.75 per cent.
TOP FIVE GAINERS
Mutual Benefits appreciated 10 per cent to close at N0.44. Portland Paint added 10 per cent to end trade at N2.64. Learn Africa advanced by 3.96 per cent to N1.05. Eterna rose to N7.95, notching up 3.92 per cent in the process. Oando completed the top 5, climbing up by 3.45 per cent to N3.
TOP FIVE LOSERS
Juli declined by 9.56 per cent to close at N1.23. AIICO shed 7.41 per cent to end trade at N1. Chams fell to N0.20, losing 4.76 per cent. Champion slumped to N2, recording 2.44 per cent depreciation. Honeywell Flour closed at N1.41, going down by 2.08 per cent.
TOP FIVE TRADES
Altogether, 167.407 million shares valued at N1.830 billion were traded in 3,256 deals, one-fifth weaker than the volume reported the session before.
Zenith was the most active stock with 13.895 million units of its shares worth N330.124 million traded in 279 deals. Sovereign Insurance transacted 12.745 million units of GTB’s shares priced at N3.431 million in 17 trades. UBA had 11.755 million shares valued at N84.650 million traded in 158 deals. Mutual Benefits traded 10.955 million shares estimated at N4.763 million in 29 transactions. FBN Holdings traded 8.846 million shares valued at N63.359 million in 123 deals.
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