The Nigerian stock market recovered by 0.44 percent on Thursday after its consecutive fall in the last three trading sessions, with the NSE All share Index gaining 120.3 basis points to close at 27,598.34 basis points.
All sectoral indices of the local bourse likewise recorded appreciation with the Banking Index in the lead following a growth of 1.83 percent on account of a 5.11 percent gain in GTB, FCMB Plc’s increase of 3.67 to close at N1.13 per share and Access Bank’s increase of 1.44 percent or 8 kobo to close at N5.63 per share.
Fidelity, UBA, Zenith and FBN Holdings also recorded varied degrees of growth to close at 85 kobo, N4.29, N14.75 and N3.01 per share respectively.
Market Breadth turned positive at the close of the day’s transactions with 16 gainers to 14 losers. Guaranty Trust Bank led the gainers with a growth of 5.11 percent or N1.19 to close at N24.49 per share, International Breweries Plc and NEM plc added 5 percent each to close at N19.95 kobo and 84 kobo respectively while Caverton Offshore Support Group Plc improved by 3.80 percent or 3 kobo to close at 82 kobo per share.
The market capitalisation also recorded a growth of N41.3 billion to close at N9.479 trillion compared to a loss of N27 billion, as the year to date losses declined to -3.64 percent.
Tripple G Plc led the day’s five top losers with a decline of 4.90 percent or 7 kobo to close at N1.36 per share. Africa Prudential Plc followed with a loss of 4.83 percent or 13 kobo to close at N2.56 per share, Neimeth Pharmaceuticals Plc and Livestock Feeds Plc dropped 4.65 and N4.55 percent each or 4 kobo each to close at 82 and 84 kobo per share respectively. Market Performance measured by Volume and Value Traded in 2,699 deals settled at 111.9 million units and N4.0 billion respectively, compared to 81.9 million units and N592.5 million traded previously.
The three most active stocks were led by Guaranty that sold 17.1 million shares worth N426.5 million, Zenith Bank Plc followed with the sale of 10.5 million shares valued at N157.6 million while Transcorp Plc sold 10.1 million shares costing N9.8 million.