Bullish sentiments persisted on the nation’s bourse for the third consecutive session on Thursday, following buying interests in top cement player, Dangote Cement.
Specifically, key market indices rose further by 1.01 per cent while to total volume of shares traded appreciated by 245.33 per cent.
Thus, the All-Share Index index inched higher by 460.38 points nr 1.01 per cent to close at 45,890.52 from 45,430.14 recorded on Wednesday.
Accordingly, the year-to-date return increased to 7.4 per cent.
In the same vein, the market capitalisation increased by N248 billion to close at N24.725 trillion against N24.724 trillion posted on Wednesday.
The market gain was driven by price appreciation in large and medium capitalised stocks amongst which are; Dangote Cement, Nigerian Exchange Group (NGXGroup), Cadbury Nigeria, Northern Nigeria Flour Mills (NNFM) and United Capital.
Dangote Cement drove the Industrial Goods index up as it completed Tranche II of its share buyback programme.
However, analysts at Afrinvest Limited said: “In the final trading session, we anticipate mild profit-taking to dent the week’s bullish run.”
Market sentiment was positive with 27 stocks gainers in relative to nine losers.
NNFM drove the gainers’ table in percentage terms by 9.92 per cent to close at N7.20 per share.
Learn Africa followed with 9.32 per cent to close at N1.29, while Cadbury was up by 7.95 per cent to close at N9.50 per share.
Linkage Assurance rose by 7.55 per cent to close at 57k, while Jaiz Bank appreciated by 6.35 per cent to close at 67k per share.
On the other hand, Dangote Sugar Refinery led the losers’ chart in percentage terms by 2.74 per cent to close at N17.75 per share.
Stanbic IBTC Holdings followed with 2.70 per cent to close at N36, while Ardova lost 2.60 per cent to close at N13.10 per share.
FCMB Group shed 1.67 per cent to close at N2.95, while Honywell Flour Mills depreciated by 1.49 per cent to close at N3.30 per share.
Also, the total volume of trades surged by 245.33 per cent to 873.492 million units valued N31.54 billion exchanged in 4,342 deals.
This was in contrast with 252.94 million shares worth N8.93 billion achieved in 4,218 deals on Wednesday.
Transactions in the shares of CWG topped the activity chart with 517.58 million shares valued N300.19 million.
Dangote Cement followed with 102.92 million shares worth N28.780p billion, while FBN Holdings traded 54.04 million shares valued N647.96 million.
Transcorp traded 34.10 million shares worth N34.70 million, while Sovereign Trust Insurance transacted 20.99 million shares worth N4.89 million.
