Trading activities on the Nigerian Stock Exchange witnessed a marginal reversal on Thursday, as transactions closed positive to end a two-day downward trend.
The market capitalisation of the listed equities rose by N32bn or 0.3 per cent from N11.513tn on Wednesday to N11.545tn.
Similarly, the NSE’s All-Share Index increased by 101.08 basis points or 0.3 per cent to close at 36,400.38 points, from 36,299.30 points the previous day.
The NSE-30 Index rose marginally by 0.3 per cent or 4.58 basis points, from 1,695.34 points to close at 1,699.92 points.
Analysts attributed the marginal rise to the moderate buying activities in the consumer goods, construction and financial services sectors, which, according to them, dictated the outlook recorded.
The banking sub-sector maintained its lead on the activity chart, with investors exchanging 434.89 million shares, worth N3.754bn in 1,978 transactions. Activities in the banking sub-sector accounted for 73 per cent of total turnover.
Volume in the sub-sector was driven by trading in the shares of Ecobank Transnational Incorporated Plc and Wema Bank Plc, which accounted for 73 per cent of turnover in the sector.
A total of 22 stocks recorded price appreciation on Thursday, while 29 stocks recorded losses.
DN Meyer Plc recorded the highest price appreciation of the day, rising by 10 per cent or 13 kobo to close at N1.43 per share.
Champion Breweries Plc and Jos International Breweries Plc also gained 9.9 per cent each to close at N17.03 and N2.67 per share respectively.
AG Leventis Plc gained 9.7 per cent to close at N1.70 per share, while IPWA Plc and International Energy Insurance Plc gained 9.1 per cent each to close at 84 kobo and N1.20 per share.
On the other hand, Evans Medical Plc recorded the highest loss, shedding 9.9 per cent or 47 kobo to close at N4.27 per share.
RT Briscoe Plc lost 9.8 per cent or 15 kobo to close at N1.38 per share.
ABC Transport Plc lost 8.1 per cent or seven kobo to close at 79 kobo per share, while Glaxo Smithkline Consumer Products Plc lost 7.6 per cent or N5 to close at N60 per share.
Source: Punch (by Udeme Ekwere)