The bulls maintained their grip on the local market for the second consecutive session on Thursday as the All Share Index gained 125 basis points to close at 105,530.74 basis points.
On the Nigerian Stock Exchange, the bullish performance was mainly due to price appreciations in MTN Nigeria Communication, Zenith Bank and Oando, whose share value appreciated by only 10.00 percent, 4.49 percent and 0.40 percent, leaving the market in positive territory and on track for another weekly gain.
This rally added N792.7 billion to the market capitalization, raising it to N64.35 trillion and pushing the year-to-date (YTD) performance to 2.53 percent.
Measured by market breadth, market sentiment was positive as 34 tickers gained compared to 24 losers.
On the performance dashboard, MTN Nigerian Communication and Honeywell Flour Mills topped the list of gainers with their share value appreciation by 10 percent and 9.9 percent respectively, while RT Briscoe and Sunu Assurance recorded the biggest losses of the day with a depreciation of its shares. value by 10 percent, respectively.
Sectoral performance was generally favorable, with significant gains in banking, consumer goods and oil/gas, which fell in value by 1.70 percent, 0.46 percent and 0.04 percent, respectively. ; while the insurance and industrial goods sectors recorded slight losses of 1.38 percent and 0.17 percent, respectively.
Trading activity was relatively subdued, with drops of 3.99 percent, 35.28 percent and 47.07 percent in the number of transactions, trading volume and value, respectively.
A total of 489.53 million shares valued at N13.07 billion were traded in 13,010 transactions, with Universal Insurance leading the trading volume, accounting for 97 million shares worth N72.2 million in 410 transactions.
READ ALSO FROM THE NIGERIAN TRIBUNE
Selling pressure on bank stocks sinks stock market 0.2%