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NSE: Zenith Bank, FCMB, GTBank dominate trades as Nigerian bourse closes bullish again. Is the market returning to profitability?

The Nigerian Stock Exchange (NSE) appears to be returning to profitability as the market closed bullish in Thursday’s trading. Today’s positive performance makes it the third time the market is gaining this week.

The All Share Index closed at 26,355.35, up by 0.17%. Year to date, the market is down by 16.13%.

Top 5 gainers

Seplat led gainers with a 9.28% gain to close at N565. Chams Plc was next with a 9.09% N0.24.

Jaiz Bank closed at N0.49, gaining 8.89%. Consolidated Hallmark Insurance and Nigeria Breweries gained 8.11% to close at N0.49 and N0.40 respectively. Nigeria Breweries’ positive earnings today may be as a result of its declared interim dividend of 50 kobo per share.

Top 5 losers

On the flipside, Unity Bank was the worst-performing stock in today’s trading, losing for the second day this week. The stock lost 8.47% to close at N0.54.

Law Union and Rock Insurance closed at N0.45, losing 8.16%. Union Diagnostic and Clinical Services lost 8% to close at N0.23.

Oando closed at N3.11, losing 7.44%. The stock’s misfortune at the bourse may be as a result of its 18% drop in revenue for Q3 2019.

University Press rounds up today’s top 5 losers with a 4.35% loss to close at N1.30. The stock dropped from its number one position from yesterday’s trading.

Top 5 trades

During Thursday’s trading session, 347.8 million shares worth N6.8 billion exchanged hands in 2,756 deals. Out of which Zenith Bank topped the trades with 103.7 million shares worth N1.8 billion exchanged in 541 deals.

FCMB was next with 85.1 million shares valued at N136.6 million traded in 52 deals. 39 million GTBank shares valued at N980.5 million were traded in 250 deals.

UBA traded 21.7 million shares valued at N125.6 million in 199 deals. MTN Nigeria rounds up the top 5 trades by volume with 21 million shares valued at N2.7 billion traded in 72 deal.

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