Since the commencement of trading activities on Tuesday, the Nigerian Exchange Limited, NGX has been closing on a positive.
Thursday, being the third consecutive positive close for the week, saw the All-Share Index ending the day’s transactions at 43,607.94 basis points, 131.19 basis points or 0.3 percentage points above Wednesday’s close of 43,476.75 basis points.
Likewise, the Market Capitalization advanced 0.3 or 70 billion Naira above Wednesday’s close of 23,427 trillion Naira to end Thursday’s trading at 23,497 trillion Naira.
This positive sentiment which is also evident in the benchmark index that saw 24 Stocks gaining, relative to 13 stocks decliners, was due to demand for LAFARGE AFRICA PLC and FBN HOLDINGS PLC stocks which appropriated by 3.1% and 1.8%, respectively.
FBN HOLDINGS PLC was the most traded stock by volume at 27.09 million units, while newly listed B U A FOODS PLC was the most traded stock by value at N544.69 million.
Top on the gainers chart is B U A FOODS PLC which opened the day’s trading activities at N44.00k per share and closed at N48.40k per share, gaining N4.40k or 10.00 percent.
Next is ACADEMY PRESS PLC with an opening selling price of 0.55k per share and a closing price of 0.60k per share, gaining 0.05k or 9.09 percent.
Followed by MEYER PLC which had an opening selling price of 0.46k per share and closed at 0.50k per share, gaining 0.04k or 8.70 percent.
While SUNU ASSURANCES NIGERIA PLC topped the losers table with a drop from a previous selling price of 0.41k per share to 0.37k per share, losing 0.04k or 9.76 percent.
Followed by NEM INSURANCE PLC with a 0.35k or 7.78 percent drop from a previous selling price of N4.50k per share to N4.15k per share. And FTN COCOA PROCESSORS PLC was the third top loser with a decline of 0.03k or 7.69 percent from 0.39k per share to 0.36k per share.
However, the total volume of trades, decreased by 85.9% to close at 174.61 million units, valued at N2.13 billion, and exchanged in 3,715 deals.
Also, sectoral performance was broadly negative, with the Insurance, Oil & Gas, Industrial Goods and Consumer Goods indices all depreciating by 1.4%, 0.9%, 0.4% and 0.1% while the Banking index was the sole gainer appreciating by 0.4%.
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