The Nigerian stock market sustained bullish trend on Thursday with a gain of 2.14 per cent, as investors’ appetite remained strong following the release of the full guideline and framework for the CBN’s flexible exchange rate policy.
The lead indicator, NSE-ASI gained 579.91 absolute points or 2.14 per cent to close at 28,489.97 points. Similarly, the market capitalisation gained N205.36 billion to close at N9.78 trillion.
Reviewing the sectoral indices showed that the Banking index gained by 3.10 per cent, followed by Insurance with a gain of 1.60 per cent, while Consumer Goods appreciated 2.81 per cent.
Also, Industrial Goods was up by 2.17 per cent, while Oil & Gas index rose by 0.73 per cent.
Market breadth remained positive, with 32 gainers versus 17 losers. Champion Breweries led the gainers’ table with 9.87 per cent, to close at N3.34 per share. Unity Bank followed with a gain of 8.33 per cent to close at N1.17, while Wema Bank advanced by 6.33 per cent to close at 84 kobo per share.
Nigerian Breweries gained by 5.99 per cent to close at N141.76, while Oando appreciated by 5.63 per cent to close at N7.32 per share.
On the other hand, Glaxosmith led the laggards’ table by 9.65 per cent to close at N14.13 per share. Wapco trailed with a loss of 6.17 per cent to close at N74.01, while Learn Africa declined by 4.11 per cent to close at 70 kobo per share.
NPF Microfinance Bank declined by 4.03 per cent to close at N1.19, while Africa Prudential shed by 3.49 per cent to close at N3.04.
Total volume traded inched up by 5.07 per cent to 618.25 million shares, valued at N5.41 billion, and traded in 6,757 deals.
Source : Leadership