Nigerian equity market continues upturn; gains 0.13%

The Nigerian equity market stretched its rally to the fourth consecutive trading days on Thursday, driven by gains by International Breweries, GTBank and CAP.

The All-Share Index was up 0.13 per cent to close at 25,204.60 points, while the market capitalization gained ₦18.1 billion to close to ₦13.1 trillion, moderating the bourse’s loss this year to -6.1 per cent.

The volume of equities traded dipped 0.03 per cent to 179.5 million units while value traded rose 66.7 per cent to ₦2.5 billion

TRANSCORP, GTBank and LASACO were the three most active stocks in volume term, while NESTLE, GTBank and Zenith Bank led by value.

The Consumer Goods index led the gainers, advancing 0.5 per cent due to buying interest in International Breweries and Honey Flour.

Also, the Banking and Industrial Goods indices climbed 0.2 per cent and 0.03 per cent respectively due to price appreciation in GTBank, Fidelity Bank and CAP.

The Insurance index was the lone loser as it fell 0.2 per cent due to profit taking in AIICO, while the AFR-ICT and Oil & Gas indices were flat.