The Nigerian equity market maintained its uptrend on Thursday as it rallied 2.92 percent, propelled by Dangote Cement and MTNN.
The All-Share Index (ASI) was higher by 833.09 absolute points, representing 2.92 per cent appreciation to close at 29,395.57 points, Market Capitalization gained N1.38 trillion, representing an increase of 9.99 per cent to close at N15.16 trillion following the listing of 33.86 billion ordinary shares of BUA Cement Plc at N38.45 per share, after 13.14 ordinary shares of CCNN was delisted.
The 22 gainers’ chart was led by Sovereign Trust Insurance and Champion Breweries, which both rose up by 10 per cent, while Unity Bank shed -10 per cent to top 19 other losers.
Investors traded lesser volume of stocks as it declined 6.7 per cent to 693.2m units and at a lower of value of ₦7.4billion, which was 19.2 per cent.
UBA (156.0m units), ZENITH (86.1m units) and ACCESS (82.4m units) were the most active stocks in volume terms, while ZENITH (₦1.9billion), UBA (₦1.1billion) and MTNN (₦1.3billion) were the top traded stocks by value.
The industrial sector which appreciated 6.58 per cent led other sectors that made gains, the banking sector was the worst performed, losing 0.34 per cent.
The bourse has so far appreciated 6.4 per cent this year.