In line with analysts’ expectations, Nigeria’s stock market recorded another session of positive close on Wednesday, March 4.
This comes on the heels of investors’ continued bargain hunting in some notable counters. Stock investors gained N83billion at the sound of trading closing gong. Twenty-two (22) stocks gained as against 7 losers.
Ahead of Thursday’s trading session, market watchers foresee a mixed session of continued bargain hunting in some stocks and profit-taking in others.
Stocks like Nigerian Breweries Plc (+4.44percent), UACN (+8.64percent), Access Bank (+6.51percent), ETI (+9.26percent), and FBN Holdings (+9.71percent) were on demand while the likes of Ardova (-10percent), Lafarge Africa (-0.36percent), Africa Prudential (-1.03percent), Nahco (-1.96percent), and Law Union & Rock (-4percent) were on offer.
FBN Holdings, Zenith, UBA, GTBank and Transcorp were actively traded stocks as investors in 4,419 deals exchanged 307,721,869 shares valued at N2.805billion.
The Nigerian Stock Exchange (NSE) All-Share Index (ASI) and market capitalisation increased from 26,255.11points and N13.681trillion on Tuesday respectively to 26,415.54points and N13.764 trillion on Wednesday, March 4.
The value of listed stocks increased by N83billion while the NSEASI increased by 0.61percent. Week-to-date (WtD), the market has gained 0.76percent, while year-to-date (YtD) returns stood negative at -1.59percent.
