Stock Market gains over N98bn as FBN tops trade

Trading activities on the Lagos floor of the Nigerian Stock Exchange (NSE) maintained the positive trend as the All Share Index added 1.11 percent or 283.49 points to close at 25,755.18 points.

The market capitalization also increased by 1.11 percent or N98.1 billion to close at N8.911 trillion, bringing the year to date losses lower at 4.11 percent.

FBN Holdings emerged Thursday’s most traded stock with the trade of 63.7 million shares worth N197.3 million, closely followed by Fidelity Bank that exchanged 43.6 million shares wort N34.8 million while United Capital bagged the day’s third most traded stock with 23.9 million shares sold at N69.9 million.

Dangote Flour led 19 gainers with an increase of 9.76 percent to close at N4.16, 7up came second on the gainers list with a 9.40 percent increase to close at N104.90 while Learn Africa added 7.50 percent to close at 86 kobo.

On the flip side, Conoil topped the day’s 18 losers by 5 percent to close at 91 kobo per share, Jaiz Bank followed with a depreciation of 4.96 percent to close at N1.15 per share; May&Baker dropped 3.30 percent to close at 88 kobo.

The volume and value of equities traded by investors also maintained positive momentum with an increase of 52 percent and 33 percent respectively.

Investors traded a total of 241.6 million shares valued at N1.5 billion in 3,339 deals, in contrast to 158.7 million shares valued at N1.13 billion traded in 3,048 deals previously.

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