The Nigerian stock market rose further by 0.36percent on Thursday November 21, which helped to sustain the previous day’s gains.
Investors gained N45billion as the value of listed stocks on the local Bourse increased from day open level of N12.924 trillion to N12.969trillion.
More stock buyers are expected to position in value and dividend paying counters in expectation of making more money. The market should record another day of gains in Friday’s session.
The Nigerian Stock Exchange (NSE) All Share Index (ASI) moved from 26,776.15 points to 26,872.09 points at the sound of the trade closing gong.
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Flour Mills of Nigeria Plc recorded the highest gain on the Bourse after its share price increased from N16.25 to N17.85, adding N1.6 or 9.85percent. Stanbic IBTC followed after its share price increased from N39 to N40, adding N1 or 2.56percent.
MTNN also moved up from N119.05 to N120, adding 95kobo or 0.80percent. Dangote Cement Plc gained 90kobo or 0.63percent, from N144 to N144.9.
On the decliners table, Cement Company of Northern Nigeria Plc occupied topmost position after its share price decreased from N20 to N18, losing N2 or 10percent. Unilever Nigeria Plc followed after decreasing from day open level of N18.5 to N17.45, losing N1.05 or 5.68percent.
Zenith Bank Plc was also down, from N18.8 to N18.6, losing 20kobo or 1.06percent, while United Bank for Africa Plc decreased from N7.75 to N7.6 after losing 15kobo or 1.94percent.
The market’s month-to-date (MtD) increase by 1.95percent and week-to date (WtD) by 0.08percent helped moderate the negative return seen year-to-date (YtD) to -14.50percent.
In 3,585 deals on Thursday, equity dealers exchanged 239,221,339 units valued at N2.278billion. FBN Holdings, Transcorp, Zenith Bank, GTBank and UBA were actively traded stocks on Thursday.
Investor confidence is seen improving as all major sub-sectors closed positive except the Industrial Goods sector.
