Price appreciation in GTBank, International Breweries, Mobil and 18 other stocks was what the Nigerian needed to sustain rally on Thursday.

The All-Share Index (ASI) added 34.00 absolute points, representing 0.10% growth to close at 34,803.00 points, investors gained ₦17.8billion as market capitalisation rose to ₦18.2tn while YTD returns improved to 29.6%.

The volume and value of equities traded fell by 40.8% and 48.9% to 257.6 million units and ₦3.5 billion, respectively.

The most traded stocks by volume were ZENITH (40.6m units), TRANSCORP (23.2m units) and ACCESS (20.9m units) while ZENITH (₦999.3m), MTNN (₦686.1m) and GUARANTY (₦242.0m) led by value.

The Oil & Gas sector led gainers, up 2.8% due to bargain hunting in MOBIL and OANDO, the Insurance and Consumer Goods indices rose 1.0% and 0.6% respectively owing to buying interest in WAPIC, AIICO, International Breweries and GUINNESS.

The 2.6% gain by GTBank marginally drove the Banking index higher by 0.02%, but the Industrial Goods and AFR-ICT indices closed flat.

UPDCREIT (+10.0%), NCR (+10.0%) and MOBIL (+9.9%) led the top gainers while ROYALEX (-7.7%), UNIONDAC (-7.4%) and AFRIPRUD (-5.8%) led  the decliners. Following three consecutive days of positive performance, we envisage investors will take profit in the next trading session. However, we expect the equities market to close in the green for the week.


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