NSE market cap higher by N325bn on Thursdays trading

It was a Bullish Day again on Thursday as Investors Increase Risk Appetite pushed the market’s benchmark performance indicator –the NSE All Share Index (ASI) by +1.54% to close at 40,963.14 basis points as against +0.11% appreciation recorded on Wednesday.

The value of listed stocks increased from N21.093trillion to N21.418trillion, up by about N325billion.

Seplat Petroleum Development Company Plc rallied most, from day-open low of N496.5 to N540, up by N43.5 or 8.76percent. Dangote Cement Plc also rallied from a low of N230 to N237, adding N7 or 3.04percent.

Also, the share price of MTNN advanced from N165 to N168, gaining N3 or 1.82 percent, while Ardova rallied from day open low of N20 to N21.85, adding N1.85 or 9.25percent. Likewise, the share price of NASCON moved from N15.95 to N17.5, adding N1.55 or 9.72 percent.

READ ALSO: NSE: Profit-taking in industrial stocks wipes out year-to-date gain

The shares of Transcorp, Mutual Benefit, GTBank, Lafarge Africa and FBN Holdings were most traded on the Bourse. In 6,706 deals, investors exchanged 809,362,140 units valued at N8.905billion.

“Following four consecutive sessions of closing in the green, we expect the market to close the week on a very bullish note, as the domestic bourse continues to move higher amidst dominance by the Bulls.

However, the possibility of profit-taking cannot be overruled”, equity research analysts at Lagos-based Vetiva said in their Thursday note to investors.

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