Equities market appreciates by 0.25%

Amidst decline in market turnover, the Nigerian Stock Exchange (NSE) recorded a marginal gain of 0.25 per cent on Thursday as the market was lifted by positive momentum in Industrial and Banking stocks.

This performance was largely impacted by buying interests in Dangote Cement Plc, Forte Oil and Zenith Bank Plc which cancelled out the losses in Total Nigeria and Mobil Oil Nigeria Plc.

Consequently, the All-share Index strengthened by 65.38 basis points or 0.25 per cent to berth at 25,739.18basis points from 25,673.80 basis points , with corresponding market capitalisation of N8.86trillion from N8.83 trillion.

In spite of the positive close in the index, both volume and value turnover contracted by 39per cent and 35per cent to 165million units of stocks worth N1.27 billion.

Diamond Bank and Inter Brew were the most actively traded stocks with 80m and 16m units of stocks traded respectively.

In today’s session, there were 19 gainers led by Forte Oil that gained 10.24 per cent, as against 20 losers led by Total Nigeria Plc that dropped by 9.08 per cent.

Performance across sector was mixed as gains in Industrial Index appreciated by 0.65 per cent and Banking Index gained 0.36 per cent countered by losses in both the Consumer Index that dropped by 0.51 per cent and the Oil & gas Index that decreased by 0.62 per cent.