By Udeme Ekwere

Trading activities on the Nigerian Stock Exchange improved on Thursday, as transactions closed positive to end a plethora of losses.

Specifically, the market capitalisation of the listed equities rose by N17bn or 0.24 per cent from N7.145tn on Wednesday to N7.162tn.

Similarly, the NSE’s All-Share Index increased by 54.70 basis points or 0.24 per cent to close at 22,390.45, from 22,335.75 points the previous day.

Analysts traced the rise to marginal gains recorded in some stocks in the banking and building materials sectors.

The NSE-30 Index rose by 0.42 per cent or 4.15 basis points from 900.12 to close at 994.27 points, while the NSE Food/Beverages Index gained 1.1 per cent or 8.85 points from 782.97 to close at 791.82.

The banking index was up by the highest margin, rising by three per cent or 9.06 points to 307.81 points from 298.75 points recorded the preceding day, while the NSE Insurance Index fell from 147.09 points to 146.44 points.

The banking sub-sector, however, maintained its lead on the activity chart, with investors exchanging 225.07 million shares worth N1.595bn in 3,414 transactions. Trading in the sub-sector accounted for 67 per cent of total turnover.

Volume in the sub-sector was driven by trading in the shares of United Bank for Africa Plc, Guaranty Trust Bank Plc, Zenith Bank Plc and First City Monument Bank Plc.

Diamond Bank Plc recorded the highest price appreciation for the day, rising by five per cent or 20 kobo to close at N4.20 per share. It led 26 other stocks on the gainers’ chart.

Ashaka Cement Plc also gained five per cent or N1.00 per share to close at N21 per share, while Julius Berger Nigeria Plc rose by 4.9 per cent or N2.47 to close at N51.97 per share.

GTBank Plc and Ecobank Transnational Incorporated Plc also added 4.9 per cent each to close at N12.22 and N13.74 per share, respectively.

Other price gainers included Zenith Bank, Nigerian Aviation Handling Company Plc and Capital Hotel Plc, which gained 4.9 per cent each to close at N12.91 N6.82 and N6.83 per share in that order.

On the other hand, Cement Company of Northern Nigeria Plc recorded the highest loss, shedding five per cent or 38 kobo to close at N7.22 per share.

Oando Plc lost 4.9 per cent or N1.60 to close at N30.46 per share.

Source: Punch