The Nigerian equities market recovered on Thursday as the benchmark Index rose by 0.16% or 82.98 basis points to settle at 52,290.75 basis points when compared with Wednesday’s close of 52,207.77 basis points.
Likewise, the market capitalization gained 0.16% or ₦45bn to close at ₦28.472trn as against yesterday’s ₦28,427trn.
The first gain for the week is attributed to buying interest in GUARANTY TRUST HOLDING COMPANY PLC (+4.12%), MTN NIGERIA COMMUNICATIONS PLC (+0.22%), and LAFARGE AFRICA PLC (+0.42%).
Analysis of today’s market activities showed that a total of 1.27bn shares valued at ₦7.01bn were exchanged in 5,963 deals where TRANSNATIONAL CORPORATION PLC (-6.11%) led the volume chart with 811.20m units of shares traded while ACCESS HOLDINGS PLC (+1.90%) led the value chart in deals worth ₦2.35bn.
As measured by market breadth, market sentiment was positive with 32 advancing issues outnumbering the 18 declining ones.
MUTUAL BENEFITS ASSURANCE PLC. (+10.0%) and NEM INSURANCE PLC (+9.64%) recorded the most significant gains of the day, while LINKAGE ASSURANCE PLC (-9.43%) and MCNICHOLS PLC (-8.86%) topped the losers’ list.
From a sectoral perspective, the Insurance (+2.1%), Banking (+0.8%), and Oil & Gas (+0.8%) indices advanced while the Consumer Goods (-0.3%) index declined. The Industrial Goods index closed flat.
Confidence Okwuchi
