The equities market yesterday reversed the bearish run of the previous three days with market value appreciating by N11.3 billion.
Market indices rose by 0.13 percent. The Nigerian Stock Exchange All Share Index (NSE ASI) closed the day at 25,936.24, up 32.69 on Wednesday’s level.
Other indices also closed in green except the NSE Oil and Gas Index that dropped 1.56 percent on account of sell pressure in FO that dropped 9.74 percent and Total that lost 3.60 percent.
The NSE 30 added 0.13 percent, the Main Board grew 0.27 percent, the Banking Index added 0.86 percent and the consumer goods Index appreciated by 0.02 percent.
Market capitalization added N11.3 billion to close at N8.938 trillion, having opened at N8.927 trillion.
The most traded stock for the day was Continental Reinsurance with 203.4 million shares worth N335.4 million. Standard Trust Alliance (STACO) followed with 20 million units valued at N10 million and Zenith Bank was third with 18.7 million shares valued at N290.9 million. Diamond Bank was the fourth most-traded stock with 11.9 million units valued at N10.9 million, while Fidelity Bank emerged fifth with 11.2 million units of shares at N9.9 million.
Investors moved 354.5 million shares, 16 percent higher than Wednesday’s 305 million, while the value of equities traded for the day appreciated 6.3 percent from the previous session’s N1.6 billion to N1.7 billion.
Twenty stocks grew their equity prices against 17 which shed value. Unity Bank led the gainers with 5.00 percent to close at 84 kobo. Oando followed went up 4.82 percent to close at N4.78 per share, while Continental Reinsurance added 4.72 percent to close at N1.11 per share. Guinness increased 4.23 percent to close at N63.53 and Neimeth gained 3.23 percent to close at 64 kobo.
Forte Oil led the days decliners again, falling 9.74 percent to close at N61.07, UAC-Prop was next with 9.38 percent to close at N2.61, even as Transcorp lost 5 percent to close at 76 kobo. Livestock Feeds shed 4.88 percent to close at 78 kobo and Total depreciated 3.60 percent to close at N268 per share.
The day’s transactions were carried out in 2,760 as against 2,620 deals in Wednesday’s session.