The Nigerian Exchange Limited, NGX on Thursday returned Bullish sentiments in the equities market after 3 consecutive days of decline.
Consequently, the benchmark All-Share Index surged 1.05% to close at 53,275.49 points, with the market capitalisation increasing by ₦298.75bn to close at ₦28.72trn.
Sustained investor interest in MTN NIGERIA COMMUNICATIONS PLC (+5.68%), alongside a recovery in STANBIC IBTC HOLDINGS PLC(+4.55%) and ACCESS HOLDINGS PLC (+2.06%), and an uptick in LAFARGE AFRICA PLC(+1.59%) helped to push the index to the positive.
Analysis of Thursday’s market activities showed trade turnover settled higher relative to the previous session, as a total of 274.56m shares valued at ₦8.45bn were exchanged in 5,184 deals.
TRANSNATIONAL CORPORATION PLC led the volume chart with 48.38m units while MTN NIGERIA COMMUNICATIONS PLC led the value chart at ₦5.49bn.
Market breadth closed negative with 29 declining stocks outnumbering the 21 advancing ones.
TRANSCORP HOTELS PLC led the gainers on Thursday with a price move from ₦5.36k per share to ₦5.89k per share, gaining 0.53k or 9.89%.
Next is BETA GLASS PLC, gaining ₦5.55 or 9.74 to close at ₦62.55k per share from ₦57.00 per share.
And MCNICHOLS PLC grew 0.17k or 9.60% to close at ₦1.94k per share from ₦1.77k per share.
On the flip side is CONOIL PLC leading with a fall from ₦31.50k per share to settle at ₦28.35k per share, losing ₦3.15k or 10.00%.
Followed by ETERNA PLC declining 0.70k or 9.59% to settle at 6.60k per share from 7.30k per share.
While PRESTIGE ASSURANCE PLC lost 0.04k or 9.09% to close at 0.40k from 0.44k per share.
Sectoral performance was broadly negative, as the Insurance, Oil & Gas, Banking and Consumer Goods indices recorded losses by 1.3%, 0.8%, 0.8% and 0.2%, respectively.
While the Industrial Goods index was the lone gainer by 0.1%.
Mercy Chukwudiebere
