Stocks on the Nigerian stock market climbed N69 billion on Thursday, sustaining their upward trend.
Therefore, market capitalization increased by N69 billion to close at N25.480 trillion, up from N25.411 trillion at the opening.
On the other hand, the All-Share Index rose 129.11 points or 0.27 percent to close at 47,286.34 compared with 47,157.23 on Wednesday.
Therefore, the month-to-date and year-to-date gains increased to 1.4 per cent and +10.7 per cent, respectively.
A majority of the gain was driven by price appreciation in large and mid-cap stocks, including: Total Nigeria, Guinness, Four Mills, Nigerian Exchange Group (NGXGroup) and FBN Holdings (FBNH).
Afrinvest Ltd. analysts predict improved investor sentiment will lead to a positive performance in the final trading session of the week.
The market closed positive with 30 gainers versus nine losers.
Guiness topped the gainers’ chart with a price increase of 10% to close at N55 per share.
After closing at N264.90, TotalEnergies Marketing Nigeria, formerly (Total Nigeria), gained 9.92 percent, while UACN Property Development Company gained 9.90 percent to close at N1.11 per share.
Shares of R.T. Briscoe Nigeria rose 9.09 per cent to close at 36k, while University Press gained 8.16 per cent to close at N2.65 per share.
On Veritas Kapital Assurance, on the other hand, led the losers’ chart by 4.35 percent to close at 22k.
The Union Bank of Nigeria lost 3.20 per cent to close at N6.05, and Ikeja Hotel declined by 2.74 per cent to close at N1.45 per share.
FCMB Group depreciated by 2.34 per cent to close at N2.92 per share as the share price of Regiency Alliance Insurance fell by 2.50 per cent to close at 39k.
In all, 198.115 million units worth N3.405 billion were exchanged in 4,294 trades, a decrease of 33.4%.
The most active stock on the chart was Chams Plc with 16.738 million shares valued at N3.515 million.
The next largest trader was Transcorp, which finished with 15.38 million shares valued at N17.82 million, and Access Bank, which traded 14.29 million shares worth N149.46 million.
Flour Mills traded 12.15 million shares worth N389.37 million, while United Bank for Africa traded 12.54 million shares valued at N109.82 million.