Stock market rises as Prestige, 20 others gain
The equities market of the Nigerian Stock Exchange on Thursday pared some of the losses it recorded on Tuesday and Wednesday, as the market capitalisation rose by N45bn to close at N14.77tn.
The NSE market capitalisation and the All-Share Index dropped to N14.72tn and 40,749.86 basis points on Wednesday from N14.99tn and 41,504.51 bps at the end of trading last week.
The price appreciation recorded by 21 stocks on Thursday helped to lift the market after the two straight days of decline, with the ASI increasing by 0.31 per cent to 40,875.69 bps.
Prestige Assurance Plc led the gainers’ table as it appreciated by 9.30 per cent to close at N0.47 per share.
Other top gainers were LASACO Assurance Plc, Transnational Corporation of Nigeria Plc, May & Baker Nigeria Plc, Eterna Plc, Fidelity Bank Plc and Ecobank Transnational Incorporated Plc.
The share price of LASACO was up by 5.56 per cent to N0.38, while that of Transcorp rose by 4.85 per cent to N1.73.
May & Baker saw its share price appreciate by 4.66 per cent to N2.92, while Eterna, Fidelity Bank and ETI gained 4.66 per cent, 4.28 per cent and 3.98 per cent to close at N6.29, N2.68 and N17 per share respectively.
Twenty-two stocks recorded losses on Thursday, with GlaxosmithKline Consumer Nigeria Plc, Jaiz Bank Plc, Japaul Oil & Maritime Service Plc, International Breweries Plc and NPF Microfinance Bank Plc leading the pack.
Glaxosmith shed 9.61 per cent to close at N31.50 per share, while Jaiz Bank depreciated by 8.11 per cent to close at N0.68 per share.
Japaul Oil eased by 7.55 per cent to close at N0.49 per share; International Breweries dropped by 4.96 per cent to N51.70 per share, and NPF MfB lost 4.72 per cent to close at N2.02 per share.
A total of 495.644 million shares worth N7.68bn were traded in 4,614 deals on Thursday, compared to 401.413 million shares worth N6.77bn traded in 5,370 deals the previous day.