By Modupe Gbadeyanka

Transactions on the trading floor of the Nigerian Stock Exchange (NSE) ended in the green zone on Thursday, extending the northward movement to the second straight day.

The stock market finished 1.42 percent higher today, pushing the year-to-date return to 34.37 percent.

However, the market breadth closed negative with 19 advancing stocks and 22 losers.

In the same vein, the volume and value of shares transacted by investors declined today compared with what was traded yesterday.

Business Post reports that Thursday’s positive performance at the market was mainly influenced by gains recorded by Dangote Cement, which added N9.79k to its share value to settle at N216.91k per share.

Also, Guinness Nigeria appreciated by N8.94k to close at N96.33k per share, while Stanbic IBTC progressed by N1.49k to finish at N39.90k per share.

Furthermore, Nigerian Breweries grew by N1.40k to end at N184 per share, and Flour Mills of Nigeria moved up by N1 to finish at N30 per share.

At the other end, Seplat declined by N24.10k to close at N457.90k per share, while Mobil fell by 99k to end at N165.1k per share.

In addition, NCR Nigeria Plc depreciated by 36k to end at N6.97k per share, FBN Holdings went down by 26k to settle at N5.76k per share, and Oando sank by 23k to wrap the day at N6.30k per share.

A look at the major market indicators today showed that the All-Share Index (ASI) increased by 507.12 points to settle at 36,116.19 points, while the market capitalisation expanded by N175 billion to close at N12.5 trillion.

A total of 222.7 million shares were traded in 4,622 deals by investors on Thursday worth N4.2 billion in contrast to 281.8 million shares transacted on Wednesday in 4,066 deals valued at N5.4 billion.

Financial stocks remained the toast of investors on the trading floor of the NSE with Sterling Bank emerging the most active stock after the day’s activities, trading 36.6 million shares worth N37.3 million.

It was trailed by Royal Exchange, which exchanged 35.7 million shares worth N17.9 million, and Fidelity Bank, which sold 22 million shares valued at N29.4 million.

Access Bank moved 21.6 million shares worth N212.5 million, while Zenith Bank traded 18.5 million shares valued at N442.7 million.

Investors are upbeat that the bullish sentiments would remain as they continue to savour news of Nigeria exiting recession.

https://www.businesspost.ng/2017/09/07/nigerian-stock-market-investors-gain-n175b/

Some of our positive economic news be like economic masturbation.

Nice one

God please bless my post NYSC plans, let me be in position to be paying, not being paid

Some people will not like this

Which stock

This kind Locust gofment sef ... destroying everything in their path. TUFIAKWA!

Good news but how can the common man outside there feel all these things?

Another good news

Gradually we are getting there

Lagos Stock Exchange...FG needs to change the name back

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This is nice and encouraging. But the positive impact on the common man is the most important thing.

Good for them

Most of them are Yorubas


Quote me if you want generational curse.

DickDastardLION:

This kind Locust gofment sef ... destroying everything in their path. TUFIAKWA!

Take it easy......there is no pride in Ignorance and illiteracy

This is just the tip of the iceberg. Stay tuned.

Promise Land

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Positive news. This recession we come out from for me it's not feasible. South Africa came out of recession with 2.49℅ gain ours is just 0.55℅...

I feel the Market is trying to play us very soon.

e be like sey na true, recession don end oh

Make zenith bank no give nonsense dividend this time.....

Nice one

Welcome development.

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They say Nigeria is out of recession but prices of goods are still the same or even higher. What is happening now? Now i no fit buy rice again o

Good one everything is adding up. The common will not feel it because they are wicked to themselves, they increase prices indiscriminately to selfishly and greedily maximize profits.
Even when the prices should be low they will allow their products to get spoilt at increased price than to reduce the prices.

Fitness groove

GavelSlam:


0.55% is not feasible because?

Looks like a pump and dump in the market structure.

Good to see NSE is moving in right direction