BUA, Dangote Cement, First Bank Holding, and other firms’ stock pushedthe Nigerian stock market to continue its upward trend, with a gain of N833 billion on Thursday.
This comes as Nigerian Exchange Limited market capitalisation rose by 1.02 percent on Thursday, closing at N82.417 trillion when compared to N81.584 trillion recorded on Wednesday.
Further analysis showed that the NGX All-Share Index (ASI) climbed by 1,316.79 points, or 1.02 percent, to reach 130,283.87, as against 128,967.08 traded the previous day.
On Thursday, the uptrend was driven by strong buying interest in medium- and large-capitalised stocks, like BUA Cement, Dangote Cement, First Bank Holding Company, CHAMS, and 26 others.
To this end, the market breadth closed negative with 47 losers and 30 gainers.
Details of the gainers table indicated that BUA Cement soared by 10 percent, finishing at N112.20, while Dangote Cement increased by 9.99 percent, closing at N473.30 per share. Other gainers areCHAMS, which rose by 9.96 percent, ending the session at N3.09, and First Bank Holding Company, which gained 9.94 percent, finishing at N35.40 per share.
Also, ABC Transport climbed by 9.85 percent, closing at N5.69 per share.
On the flip side,FG192038S2 led the losers’ table, declining by 17 percent, ending the session at N83.00, while Haldane McCall fell by 10 percent, closing at N4.68 per share. Other losers are Mecure,Berger Paints, andJohn Holt.
In another framework of analysis, atotal of 1.19 billion shares worth N42.76 billion were exchanged across 37,418 transactions; this is in contrast with 11.67 billion shares worth N363.4 billion traded across 36,635 transactions earlier on Wednesday.
Accordingly, the transactions in the shares of Access Corporation led the activity chart with 168.099 million shares worth N4.62 billion.
First Bank Holding Company followed with 86.42 million shares valued at N3.04 billion, while Zenith Bank transacted 83.36 million shares worth N6.29 billion.
Nigerian Breweries traded 68.57 million shares valued at N5.08 billion, and AIICO Insurance sold 65.25 million shares worth N139.27 million.
