Third consecutive win: Nigerian Stock Exchange advanced by 0.1%

The Nigerian Stock Exchange again advanced by 0.1% on Thursday, making it the third consecutive win day this week.

Specifically, the All-Share Index, ASI advanced by 33.28 basis points to close at 25,204.60 basis points, while the Market Capitalisation gained 18 billion Naira to close at 13,149 trillion Naira.

Pertinently, the performance was driven by buying sentiments across INTERNATIONAL BREWERIES PLC which recorded a 10.0% growth and some bank stocks.

Therefore, analysis according to Cordros Securities  states “Month-to-Date gain increased to 2.1% while Year-to-Date loss moderated to -6.1%.”

The total trade volume again declined by 0.26% to 179.55 million units, valued at N2.53 billion, and exchanged in 3,055 deals.

TRANSNATIONAL CORPORATION OF NIGERIA PLC was the most traded stock by volume at 35.48 million units while NESTLE NIGERIA PLC  was the most traded stock by value at N983.47 million.

On sectors, the Consumer Goods index grew 0.5%, Banking Index grew 0.2% and Industrial Goods index grew 0.03% recorded gains, while the Insurance Index declined by 0.2%. The Oil & Gas index traded flat.

Market sentiment, as measured by the market breadth, was positive, as 17 stocks gained relative to 10 losers.

INTERNATIONAL BREWERIES PLC closed with a 10.0% gain and CUTIX PLC with 9.7%, topping the gainers’ list while STUDIO PRESS (NIG) PLC fell 9.6% and UACN PROPERTY DEVELOPMENT COMPANY PLC fell by 9.5%, recording the largest losses of the day.

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