Oando, UACN, Jaiz Bank, Briscoe Lift Nigerian Bourse

Gains recorded by some large and medium capitalised stocks, including Oando, UACN, Jaiz Bank and R.T Briscoe, on Thursday, lifted market capitalisation at the Nigerian Exchange by N42 billion.

The market capitalization rose to N25.527 trillion, representing an increase of 0.16 per cent from N25.485 trillion on Wednesday.

The All-Share Index (ASI) of the Nigerian Exchange Ltd. (NGX) closed at 47,363.98 points, 0.16 per cent higher than the 47,154.35 achieved on Wednesday.

21 stocks posted gains, compared to 20 losers, resulting in a positive market breadth.

The biggest price gains were recorded by R.T. Briscoe and UACN, which each gained 9.84 per cent to close at 67 kobo and N10.05 per share, respectively.

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Among the other major gainers, Oando rose by 8.83 per cent to close at N5.30, while Presco rose by 8.74 per cent to close at N125 per share.

Neimeth rose by 0.12 per cent to N1.77, while Jaiz Bank rose by 0.05 per cent to N75 per share.

On Royal Exchange Assurance, on the other hand, led the losers’ chart, closing at N1.34 per share, down 9.46 per cent.

With a decline of 8.57 per cent, ABC Transport ended the day at N0.32, while May and Baker closed at N4.60 per share, down 6.31 per cent.

Transcorp fell 5.21 per cent to close at N24.30, while Oando shed 2.27 per cent to end at N1.09 per share.

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The total number of shares traded decreased by 22.23 per cent to 261.558 million worth N4.478 billion and traded in 3,542 deals compared to 336.305 million worth N5.860 billion traded in 4,792 deals the previous day.

In Thursday’s trading, CTIX was the most actively traded stock, followed by Access Bank, First City Monument Bank (FCMB), Fidelity Bank and Zenith Bank to complete the list of the five most traded stocks in terms of volume of trades.

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