Nigerian stock market was unable to witness another loss on Thursday, September 26 due to record gains in shares of some largely capitalised companies.
The market’s benchmark indicator increased by 1.09percent which helped moderate record year-to-date (YtD) negative return to -12.25 percent as well as its month-to-date (MtD) return to -0.43percent.
While investors rushed to take advantage of low priced mid-to-large cap stocks, the market recorded 16 gainers as against 7 losers.
From a preceding day low of 27,283.05 points and N13.281trillion, the NSE All-Share Index (ASI) and market capitalisation increased to 27,579.85 points and N13.425trillion respectively. Stocks value rose by N144billion.
Increase bargains in favour of Nestle Nigeria Plc helped push its gains higher than others.
It recorded highest advanced from day open level of N1215 to N1336.5, after adding N121.5 or 10percent.
Seplat Petroleum Development Company Plc also increased from N460 to N506, adding N46 or 10percent. Total Nigeria Plc increased from N100 to N110, adding N10 or 10percent.
Access Bank Plc moved up from N7.2 to N7.7, adding 50kobo or 6.94percent, while Dangote Sugar Refinery Plc gained from N10.7 to N10.9, adding 20kobo or 1.87percent.
Though the possibility of profit-taking action cannot be ignored, the record positive performance witnessed on Thursday is expected to filter into Friday being the last trading session of the week as investors take advantage of the recent dip.
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In 2,576 deals, equity dealers exchanged 183,465,723 units valued at N2.926billion. Access Bank Plc, GTBank Plc, Transcorp Plc, Lafarge Africa Plc, FBN Holdings Plc were actively traded stocks.
Forte Oil Plc stocks recorded the highest price decline, moving from N16.95 to N15.8, representing a decline of N1.15 or 6.78percent.
GTBank Plc followed after its share price moved from N28.25 to N27.95, down by 30kobo or 1.06percent.
Also on the top laggards league include Custodian Investment Plc which dipped from a high of N6.3 to N6, after losing 30kobo or 4.76percent.
Dangote Flourmills Plc decreased from N22.3 to N22.2, losing 10kobo or 0.45percent, while Honeywell Flourmills declined from N1.01 to 95kobo, losing 6kobo or 5.94percent.
