Amid profit taking activities on notable stocks, bargain investors still took positions in a number of attractive counters trading at lower bands.
This led to an additional 0.07percent increase in the market’s benchmark performance indicator – the Nigeria Stock Exchange (NSE) All Share Index (ASI).
Stocks like Nestle Nigeria Plc, MTNN Plc, and Dangote Cement Plc were topmost on demand in remote trading session on Thursday April 16.
Zenith Bank and GTBank led the stocks that were on offer as investors rushed to book profit.
As the bulls dominated trading session in three trading days into this week resulting to 5.48percent gain, the market no doubt will close this week on a positive note.
In the absence of any negative event that is capable of weakening investors’ confidence market watchers expect no deviation from this positive pattern on Friday.
Nestle Nigeria Plc recorded the highest gain on the Bourse after its share price moved from day open high N830.2 to N913.2, adding N83 or 10percent; MTNN Plc also increased from N98 to N101.5, adding N3.5 or 3.57percent while Dangote Cement rose from N133.1 to N136, adding N2.9 or 2.18percent.
Zenith Bank stock price moved from day open high N15.9 to N14.35, losing N1.55 or 9.75 percent while GTBank decreased from N21.9 to N20.5, down by N1.4 or 6.39percent.
In 5,985 deals, investors exchanged 379,110,193 shares valued at N4.327billion.
The Stock market’s benchmark index (NSE ASI) increased from 22,539. 94 points on Wednesday April 15 to 22,554.84 points on Thursday.
The record negative return year-to-date (YtD) has moderated to -15.97percent. The value of listed stocks on the Bourse increased by about N8billion, from N11.746trillion to N11.754trillion.
Iheanyi Nwachukwu
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