The Nigerian stock market on Thursday closed green as the capitalisation gained N272 billion, following price appreciations recorded in MTN Nigeria and Seplat stocks.
Specifically, investors gained N272 billion or 0.93 per cent in value as market capitalisation went up to close at N29.411 trillion as against N29.139 trillion recorded at the previous trading session.
Consequently, the All-Share Index (ASI) rose by 498.44 points, representing a gain of 0.93 per cent to close at 53,998.12 from 53,499.68 on Wednesday.
“We expect earnings result to dictate market performance tomorrow, while large-cap counters elevate activity level,” analysts at Vetiva Securities Ltd., said.
Market breadth closed positive with 21 gainers in contrast with 10 losers.
MRS led the gainers’ chart in percentage terms with10 percent to close at N17.60 per share.
Northern Nigeria Flour Mills grew by 9.88 percent to close at N8.90, while International Energy Insurance garnered 9.76 per cent to close at 90k, per share.
Seplat went up by 9.5 per cent to close at N1,325 and Conerstone Insurance gained 9.09 per cent to close at 60k, per share.
Conversely, Sunu Assurances led the losers’ chart in percentage terms by 8.11 per cent to close at 34k, per share.
Mutual Benefits Assurance followed with a decline of 7.69 percent to close at 36k per share.
Linkage Assurance lost 6.25 per cent to close at 45k, while Veritas Kapital shed 4.76 per cent to close at 20k, per share.
PZ fell by 4.65 per cent to close at N10.25, per share.
The total value of traded grew by 46 per cent with a sale of 2.87 million shares worth N8.07 billion traded in 3,940 deals.
Transactions in the shares of Universal Insurance topped the activity chart with 2.27 billion shares valued at N543.21 million.
AIICO followed with 14 million shares worth N9.17 million, while Guaranty Trust Holding Company (GTCO) traded 13.93 million shares valued at N349.87 million.
Sterling Bank traded 10.24 million shares valued at N17.02 million, while Fidelity Bank transacted 9.88 million shares worth N57.49 million.
