The Nigerian Stock Exchange on Thursday extended a positive stance, closing the Easter Holiday with a growth of 1.47 percent.
Specifically, the All-Share Index appreciated by 310.77 points or 1.47 percent to close at 21,384.03 compared with 21,073.26 achieved on Wednesday.
Similarly, the market capitalization garnered N162 billion or 1.47 percent to close at N11.144 trillion in contrast with N10.982 trillion on Wednesday.
The upturn was impacted by gains recorded in medium and large capitalized stocks, amongst which are: Nestle Nigeria, Seplat, Stanbic IBTC, Dangote Sugar Refinery, and Lafarge Africa.
Commenting, Mr. Ambrose Omordion, the Chief Operating Officer, InvestData Ltd., attributed the seeming strength returning to the market after two months of decline due to Coronavirus pandemic to the low price of equities.
Omordion said that investors were taken advantage of the prevailing low prices to accumulate fundamentally sound stocks.
Market breadth remained positive with 24 gainers and 12 losers.
Dangote Sugar led the gainers’ chart in percentage terms, increasing by 9.74 percent to close at N10.70 per share.
United Bank for Africa (UBA) followed with a gain of 9.73 percent to close at N6.20 per share.
Cadbury and Lasaco Assurance improved by 9.52 percent each, to close at N6.90 and 23k per share respectively.
Sterling Bank appreciated by 9.45 percent to close at N1.39 per share.
On the other hand, Omatek Ventures dominated the losers’ chart in percentage terms, dropping by 8.82 percent to close at 31k per share.
Chams Plc and Unity Bank followed with a decline of 8.70 percent each, to close at 21k and 42k per share respectively.
Jaiz Bank shed 7.84 percent to close at 47k, while Skyway Aviation Handling Company depreciated by 7.41 percent to close at N2 per share.
However, the total volume of shares traded decreased by 9.09 percent as investors bought and sold 314.91 million shares worth N5.02 billion exchanged in 5,427 deals.
This was against a turnover of 346.41 million shares valued at N5.22 billion achieved in 4,660 on Wednesday.
Transactions in the shares of FBN Holdings topped the activity chart with 56.02 million shares worth N261.55 million.
UBA followed with 37.77 million shares valued at N228.43 million, while Lafarge Africa sold 34.99 million shares worth N444.41 million.
Guaranty Trust Bank accounted for 31.62 million shares valued at N596.09 million, while Zenith Bank transacted 28.28 million shares worth N388.40 million.
The News Agency of Nigeria reports that the stock market will reopen on April 14 as the Federal Government has declared April 10 and 13 as public holidays to mark Easter celebrations.
NAN
