Nigerian stocks climb further, add N41 billion

Nigerian stocks rose further on Thursday with the benchmark gauge adding 0.19 per cent, an affirmation of an increasing investor confidence in the market.

The advance was triggered by a huge demand for the shares of FBN Holdings, Champion Breweries, Seplat and Fidelity Bank.

Trade volume improved by as much as 104 per cent when compared with that of Wednesday.

A positive market breadth was reported as there were 21 gainers against 14 losers at the end of trade.

The all-share index jumped 78.79 points, closing at 41,129.98, while market capitalisation closed lower at N21.4 trillion.

Year to date, the index is down by 2.13 per cent.

TOP FIVE GAINERS

Champion Breweries led gainers, appreciating by 9.1 per cent to close at N3.05. Africa Prudential went up by 7.81 per cent to N6.90. FBN Holdings rose to N11.75, notching up 7.31 per cent in the process. Universal Insurance added 4.76 per cent to end trade at N0.22. Chams completed the top 5, climbing by 4.35 per cent to N0.24.

TOP FIVE LOSERS

Chams led losers, declining by 10 per cent to close at N1.26. ETI shed 8.16 per cent to close at N6.75. WAPIC fell to N0.47, losing 6 per cent. Linkage Assurance slumped to N0.57, recording 5 per cent depreciation. NEM closed at N1.93, going down by 4.46 per cent.

This article originally appeared on Premium Times

Photo: Premium Times