BANKING, INDUSTRIAL GOODS SECTOR SUSTAIN MARKET’S POSITIVE SENTIMENT
The Nigeria stock market on Thursday closed marginally higher with a 0.04 per cent gain, extending positive sentiment to three consecutive trading days, following bargain hunting on mostly banking and industrial goods’ sector. The market breadth closed positive, recording 24 gainers against 11 losers.
Consequently, the All-Share Index rose by 10.66 basis points or 0.04 per cent to close at 26.426.20 index points as against 26.415.54 recorded the previous day while market capitalisation of equities appreciated by N6bn or 0.04 per cent to close higher at N13.770tn from N13.764tn as market sentiment remained on the green territory.
Meanwhile, a turnover of 431.9 million shares in 4,518 deals was recorded in the day’s trading. Premium sub-sector was the most active (measured by turnover volume); with 138.2 million shares exchanged by investors in 1,826 deals. Volume in the sub-sector was driven by activities in the shares of Zenith Bank Plc and UBA Plc.
Banking sub-sector boosted by the activities in the shares of GTB Plc and Fidelity Bank Plc followed with a turnover of 89.8 million shares in 907 deals. The number of gainers at the close of trading session was 34 while decliners closed at 11.
Further analysis of the day’s trading showed that Chams Plc led the gainers’ table with 10 per cent to close at 22 kobo per share while Stanbic IBTC Bank Plc followed with 9.89 per cent to close at N35.70 per share and Skyway Aviation Company Plc with a gain of 9.83 per cent to close at N2.57 per share.
On the flip side, GSK Plc led the losers’ chart with a drop of 9.52 per cent to close at N3.80 per share. Jaiz Bank Plc followed with a loss of 8.20 per cent to close at 56 kobo per share while NEM Insurance Plc dropped by 7. 49 per cent to close at N1.73 per share.