Chris Ndibe<\/p>\n\n\n
Activities on the Nigerian stock market closed on a positive note to halt the four consecutive days of bearish run, growing by 0.02 per cent.<\/p>\n\n\n
The performance was driven by investors\u2019 renewed posItive sentiments in blue-chip stocks like Nestle Nigeria, MTN Nigeria Communications (MTNN) and nine others.<\/p>\n\n\n
Specifically, the All-Share Index grew by 7.42 points or 0.02 per cent to close at 38,774.03 from 38,766.51 achieved on Tuesday.<\/p>\n\n\n
Also, the market capitalisation rose by N4 billion to close at N20.286 trillion in contrast with N20.282 trillion posted on Wednesday.<\/p>\n\n\n
The gain was driven by price appreciation in large and medium capitalised stocks amongst which are: Nestle Nigeria, Flour Mills of Nigeria, MTNN, Stanbic IBTC Holdings and Africa Prudential.<\/p>\n\n\n
Analysts at Afrinvest Limited said, \u201cIn subsequent trading sessions, we anticipate that the equities market will sustain a positive momentum.\u201d<\/p>\n\n\n
Jaiz Bank dominated the gainers\u2019 chart with a gain of 10 per cent to close at 66k per share.<\/p>\n\n\n
The Initiates followed with 9.52 per cent to close at 46k and Royal Exchange rose by 8.33 per cent to close at 39k per share.<\/p>\n\n\n
Japaul Gold and Ventures appreciated by 8.16 per cent to close at 53k, while Consolidated Hallmark Insurance gained 6.90 per cent to close at 31k per share.<\/p>\n\n\n
On the other hand, Sterling Bank led the losers\u2019 chart in percentage terms by 9.47 per cent to close at N1.53 per share.<\/p>\n\n\n
Pharma Deko followed with 9.46 per cent to close at N1.34, while Prestige Assurance shed 8.70 per cent to close at 42k per share.<\/p>\n\n\n
Ardova shed 6.91 per cent to close at N14.15, while Livestock Feeds depreciated by 5.88 per cent to close at N1.76 per share.<\/p>\n\n\n
Also, the total volume of trades increased by 58.71 per cent with 356.46 million shares valued at N4.19 billion exchanged in 6,130 deals.<\/p>\n\n\n
This was in contrast with an exchange of 224.59 million worth N2.14 billion achieved in 4,675 deals on Tuesday.<\/p>\n\n\n
Transactions in the shares of Zenith Bank topped the activity chart with 55.031 million shares valued at N1.156 billion.<\/p>\n\n\n
Access Bank followed with 38.385 million shares worth N308.553 million, while Transnational Corporation of Nigeria (Transcorp) traded 31.860 million shares valued at N24.899 million.<\/p>\n\n\n
Guaranty Trust Bank traded 29.208 million shares valued at N819.08 million, while Mutual Benefits Assurance transacted 25.449 million shares worth N10.021 million.<\/p>\n\n
Chris Ndibe Activities on the Nigerian stock market closed on a positive note to halt the four consecutive days of bearish run, growing by 0.02 per cent. The performance was driven by investors\u2019 renewed posItive sentiments in blue-chip stocks like Nestle Nigeria, MTN Nigeria Communications (MTNN) and nine others. Specifically, the All-Share Index grew by […]<\/p>\n","protected":false},"author":1,"featured_media":26745,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[125,126,1],"tags":[],"class_list":["post-29453","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-money","category-trade-and-industry","category-uncategorized","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\n