Nigerian stocks record biggest daily gain since start of year » TheNewsBig

Nigerian stocks made a fairly large advance on Thursday, on the right track for a constructive return this week, as the first equity index added N532.2 billion or 2 per cent as sector leaders Airtel Africa and Nestle drove gain.

Large buy pursuits throughout the two helped the market record its biggest appreciation since the flip of the year, a unusual milestone at a level when a terrific deal of funding money is shifting to the mounted earnings space, the place yield has improved reasonably for a while.

The subsequent commerce amount partly spurred the surge, with the size of commerce growing by 35 per cent when set beside that of the sooner session.

Market breadth closed constructive as 18 advancers have been reported compared with 11 losers. The 75 totally different stocks that traded on Thursday closed flat.

The all-share index added 986.6 basis elements to close at 49,661.9, whereas market capitalisation elevated to N26.8 trillion.

The index has yielded 16.3 per cent to this point this year.


CWG led gainers, appreciating by 10 per cent to close at N0.99. Research Africa rose to N2.47, notching up 9.78 per cent throughout the course of. Caverton added 9.52 per cent to complete commerce at N1.15. Multiverse went up by 9.52 per cent to N2.30. Chams completed the very best 5, climbing by 8 per cent to N0.27.


Mutual Benefits led losers, declining by 9.68 per cent to close at N0.28. Honeywell Flour fell to N2.72, dropping 8.42 per cent. Flour Mills slumped to N27, recording 7.06 per cent depreciation. Unity Monetary establishment shed 4.76 per cent to close at N0.40. Chams closed at N3.02, going down by 3.51 per cent.


In all, 226.5 million shares estimated at N2.8 billion have been traded in 3,515 affords.

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Mutual Benefits was in all probability essentially the most energetic stock with 74.5 million gadgets of its shaRres worth N22.8 million traded in 124 affords. FBN Holdings traded 23.4 million shares priced at N251.9 million exchanged palms in 88 transactions. Entry Holdings had 15.8 million shares valued at N130.2 million traded in 189 affords. UBA traded 15.3 million shares estimated at N107.1 million in 153 transactions. NEM traded 13.5 million shares valued at N62.1 million in 71 affords.

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