Nigerian stock exchange continues on upward trends

Salamatu Ejembi, Lagos

Activities on the floor of the Nigerian stock exchange closed on Thursday with 0.77 per cent gain.

The markets All Share Index closed at 32,937.98 basis points as compared to previous closing of 32,686.72 basis points increasing by 251.26 basis points or 0.77 per cent.

Likewise, the market capitalisation increased by 0.77 per cent or 87 billion Naira to close at 11.387 trillion Naira as against previous closing of 11.300 trillion Naira.

In all, investors exchanged a total of 5.29 million shares worth 4.8 billion Naira in 5,603 deals.

GAINERS

The number of stocks that appreciated at the close of Thursday’s activities increased by 19 stocks to close at 45 up from 26 stocks appreciated of Wednesday.

FORTE OIL PLC which was the second top gainer for Wednesday’s activities with a closing price of N52,92 per share, took over the first top gainer position from INTERNATIONAL BREWERIES PLC, when it closed at N58.33 per share, thereby having a gain of N5.41 or 10.22 per cent.

Whereas, INTERNATIONAL BREWERIES PLC stepped down to the second position today with a closing price of N29.24, even though it was a N2.71 or 10.21 per cent increase from Wednesday’s closing price of N26.53 per share.

CADBURY NIGERIA PLC knocked off third top gainer DANGOTE SUGAR REFINERY PLC to the 34th position on the gainers’ list.

CADBURY NIGERIA PLC closed at N14.22 per share as compared to previous closing price of N12.91 per share, gaining N1.31 or 10.15 per cent.

LOSERS

The number of depreciating stocks dropped significantly with only 15 stocks listed on Thursday on the losers’ list as against Wednesday’s 27 stocks.

GOLDEN GUINEA BREW. PLC became the top loser for Thursday’s activities when it closed at 81 kobo per share, falling by 4 kobo or 4.71 per cent when compared to previous closing price of 85 kobo per share.

JAIZ BANK PLC followed with a closing price of 81 kobo per share also dropping by 4 kobo or 4.71 per cent when compared to previous closing price of 85 kobo per share.

JULIUS BERGER NIG. PLC came third when it closed at N38 per share as against previous closing price of N39.86 per share, losing N1.86 or 4.67 per cent