The Nigerian stock market reversed previous day loss as it gained 0.1% to close at 47,272.04 points on Thursday due to appreciations in SEPLAT, GTCO, and NGXGROUP.
The year-to-date return advanced to 10.7% from 10.5% on Wednesday, while market capitalisation rose ₦34.9bn to ₦25.5tn.
Trading activity improved as volume and value traded increased 47.7% and 10.4% respectively to 340.7m units and ₦3.9bn.
The Oil & Gas and Insurance indices inched higher by 3.9% and 1.0% respectively on the back of buying interest in SEPLAT (+7.5%), AIICO (+1.5%), and MBENEFIT (+3.9%). Similarly, the AFRICT index rose 1bp due to gains in COURTVILLE (+3.9%).
Conversely, the Consumer Goods and Banking indices dipped 0.6% and 0.3% respectively driven by sell pressure on INTBREW (-4.6%), FLOURMILL (-3.6%), ACCESS (-1.0%), and UBN (-1.6%).
The Industrial Goods, however, closed flat.
Analysts at Afrinvest projected that in the final trading session for the week, there would likely be profit-taking in the market due to the weakened investor sentiment.
The Chief Executive Officer of Air Peace, Allen Onyema, has been hit with new charges…
Contrary to reports in a section of the media that the Nigerian Upstream Petroleum…
Tajudeen Suleiman It was a pleasant shock for me to read the National Bureau of…
A member of the House of Representatives, representing Isiala Mbano / Onuimo / Okigwe…
Leading financial institution in Nigeria, Fidelity Bank Plc, has assured its customers of unwavering…
Fidelity Bank Plc complies with the highest corporate governance standards as the leading commercial…
This website uses cookies.