The Nigerian stock market rose by 0.35 per cent on Thursday, resulting in a gain of N310 billion for investors.
The positive performance was driven by increased bargain hunting and investors’ interest in stocks like: Chellaram, Austin Laz, The Initiate, Sovereign Trust Insurance, Aradel Holdings and 23 others.
Specifically, market capitalisation, which opened at N89.555 trillion, added N310 billion to close at N89.865 trillion.
Similarly, the All-Share Index soared by 0.35 per cent or 489.45 points, settling at 142,036.23 compared with 141,546.78 recorded on Tuesday.
However, the market breadth closed negative with 32 losers against 28 gainers.
Guinea Insurance led the losers’ table by 9.70 per cent, settling at N1.49, while Cornerstone Insurance fell by 8.68 per cent, ending the session at N6.52 per share.
Legend Internet dipped by 7.27 per cent, closing at N5.10, and Deap Capital Management shed by 7.06 per cent, finishing at N1.58 per share.
Similarly, Thomas Wyatt Nigeria declined by 6.49 per cent, closing at N2.45 per share.
Conversely, Chellaram led the advancers’ table by 9.77 per cent, ending the session at N14.60, followed by Austin Laz, which increased by 9.67 per cent, finishing at N2.95 per share.
The Initiates rose by 8.08 per cent, settling at N12.97, and Sovereign Trust Insurance climbed by 7.37 per cent, closing at N3.06 per share.
