Trading activities on the Nigerian Stock Exchange witnessed a marginal trend reversal on Thursday, as transactions closed positive to end a three- day downward trend.

The market capitalisation of the listed equities rose by N2bn or 0.03 per cent from N6.579tn on Wednesday to N6.581tn.

Similarly, the NSE’s All-Share Index increased by 5.18 basis points or 0.02 per cent to close at 20,883.89, from 20,878.71 points the previous day.

The NSE-30 Index rose marginally from 937.76 points recorded the preceding day, to close at 937.87 points, while the NSE Food/Beverages Index rose from 1,717.19 points the previous day, to 1,717.55 points.

Analysts attributed the marginal rise to the renewed buying activities in the consumer goods, financial services and health care sectors, which according to them, impacted the outlook recorded.

They, however, added that low-key selling activity was witnessed in the oil & gas sector.

The banking sub-sector maintained its lead on the activity chart, with investors exchanging 27.393 million shares, worth N247m in 190 transactions. Activities in the banking sub-sector accounted for 93 per cent of total turnover.

Volume in the sub-sector was driven by trading in the shares of Access Bank Plc and Ecobank Transnational Incorporated Plc.

Meanwhile, due to the ongoing nationwide strike action, low volume and value was still recorded in the market as from the beginning of the week.

In all, investors staked N350.16m on 29.36 million shares, in 244 deals, compared to 53.538 million shares, worth N649m traded the previous day, in 295 transactions.

A total of five stocks recorded price appreciation on Thursday, while six stocks recorded losses.

Glaxo Smithkline Consumer Products Plc recorded the highest price appreciation of the day, rising by 4.8 per cent or N1.05 to close at N22.90 per share.

First City Monument Bank Plc also gained 4.8 per cent or 19 kobo to close at N4.10 per share.

On the other hand, Oando Plc lost the highest, shedding 4.8 per cent or N1.05 to close at N21 per share.

Access Bank Plc lost 2.1 per cent or 10 kobo to close at N4.76 per share.

First Bank of Nigeria Plc lost 0.45 per cent or 10 kobo to close at N4.7 per share, while Japaul Oil and Maritime Services Plc also shed 3.2 per cent or three kobo to close at 90 kobo per share.

Source: Punch/Udeme Ekwere