The Nigerian stock market continued its bullish run on Thursday as investors have now gained over N123 billion in four consecutive trading sessions.
At the sound of the closing bell, the All Share Index (ASI) gained by 0.19 to close at 24,930.34 points while market capitalisation settled at N13.005 trillion, with year-to-date (ytd) loss eased to -7 per cent.
Reacting, Afrinvest said: “Following four consecutive bullish sessions and profit-taking witnessed earlier, we could see profit-taking activities drag market performance tomorrow. However, we expect the equities market to close on a positive note for the week”.
Meanwhile, 20 stocks appreciated in value while 10 others depreciated. Seplat topped the gainers’ chart with 9.03 per cent to close at N350 per share, Fidson followed with 8.57 per cent to close at N3.42, Stanbic increased by 4.76 per cent to close at N33, Eterna garnered 4.40 per cent to close at N1.90 while UAC-Prop rose by 4.35 per cent to close at 0.96 kobo.
On the other hand, Union Bank topped the losers’ chart with 7.41 per cent to close at N5 per share. Learn Africa was next with a decline of 6.93 per cent to close at 0.94 kobo, Linkage Assurance dropped 5 per cent to close at 0.38 kobo, Japaul oil lost 4.55 per cent to close at 0.21 kobo while May and Baker declined by 3.45 per cent to close at N2.80.
Further analysis showed that the volume and value of stocks traded fell by 54.7 and 45.2 per cent to 173.74 million units and N2.13 billion respectively, exchanged in 3,646 deals.
