Stock Market Index Gains 0.5% on Three Days Relentless Bull Run

Equites trading at the Nigerian Stock Exchange, NSE, soared for the third consecutive day Thursday, April 21, as benchmark indices leaped by 0.50% compared with a rise of 0.51 percent on Wednesday.

The All-Share Index jumped by 124.93 points or 0.50 percent to close at 24,909.88 points compared to an increase of 125.78 points added previously to close at 24,784.95 points, while the Market Capitalization added N42.97 billion to close at N8.57 trillion.

Zenith Bank Plc was most active stock for the day, trading 21.56 million shares valued at N259.4 million. GTBank followed with 21.52 million shares worth N345.5 million, while First Bank Holdings traded 17.1 million shares valued at N57.5 million.

Skye Bank sold 16.74 million shares worth N16.13 million, while United Capital accounted for 12.8 million shares valued at N19.13 million.

The appreciation recorded in the bourse’s indices fall on gains recorded in the share prices of Tiger Branded Consumer Goods, Access Bank, Cement Company of northern Nigeria amongst others.

Tiger Brands led the day’s 26 advancers with a gain of 9.81 per cent or 26 kobo to close at N2.91 per share, followed by Access Bank which added 5.85 per cent or 22 kobo to close at N3.98 per share. Cement Company of Northern Nigeria grew by 4.96 per cent or 32 kobo to close at N6.77 per share.

Berger paints Plc. also increased by 4.93 per cent or 42 kobo to close at N8.94 per share, UBA Plc garnered 4.96 per cent or 33 kobo to close at N12.13 per share.

On the other hand, Union Homes Plc dropped by 9.58 per cent or 41 kobo to close at N3.87 per share, followed by Cutix Plc which declined by 4.86 per cent or 7 kobo to close at N1.37 per share. Champion Breweries Plc. likewise lost 4.84 per cent or 15 kobo to close at N2.95 per share.

Premier Breweries Plc closed 4.75 per cent or 14 kobo lower than its previous trading value to close at N2.81 per share, as Portland Paints Plc. depreciated by 4.73 per cent or 13 kobo to close at N2.62 per share.

Summarily, investors on the floor of the Exchange traded a total volume of 178.8 million shares valued at N1.2 billion in 3,223 deals against the 159.3 million shares valued at N1.1billion traded in 2,698 deals on Wednesday.