Stocks extended gains on Thursday with the Nigerian Stock Exchange All Share Index appreciating by 91.49 basis points or 0.34 per cent to close at 26,883.76 basis points after opening at 26,792.27 points.
Similarly, the Market Capitalisation of listed equities of the NSE rose by N29bn to close at N8.567tn. It had opened at N8.538tn.
The development saw the market indicators closing positive for the fourth consecutive day, erasing some of the losses suffered in the days leading to the Sallah break and the week after.
At the end of trading activities on the floor of the exchange on Thursday, the shares of 28 companies appreciated, while those of 22 companies fell.
In all, 279.288 million shares valued at N2.984bn were traded in 4,477 deals.
UACN Property Development Company Plc, which had shed 55kobo or -4.89 per cent on Wednesday, rebounded on Thursday to top the gainers. The company opened at N10.70 and closed at N11.39, indicating a gain of 69kobo or 6.45 per cent.
RT Briscoe Nigeria Plc and Nigerian Bags Manufacturing Company Plc were second and third, respectively, among the gainers. RT Briscoe opened at N1.61 and appreciated by eight kobo or 4.97 per cent, while BAGCO opened at N1.85 and closed at N1.94 – indicating a gain of nine kobo or 4.86 per cent.
Conoil Plc, from the Petroleum and Petroleum Products subsector, led the losers for the second consecutive day after it posted a loss of -4.95 per cent or 93kobo. The company had opened at N18.78 and closed at N17.85.
It was followed by the Nigerian-German Chemicals Plc – from the Pharmaceuticals subsector, and Portland Paints and Products Nigeria Plc – from the Building Materials subsector.
Nigerian-German lost 42kobo to close at N8.17 after it opened at N8.59; while Portland Paints shed 20kobo to close at N3.90 after it opened at N4.10.
On Wednesday, the market capitalisation of listed equities on the NSE had appreciated by N22bn, while the NSE All Share Index rose by 68.25 basis points or 0.25 per cent.
Source: Punch ( wriiten by Simon Ejembi)
