NSE Index Gains 0.18% As Trading Reverses Negative Run

Transactions on the floor of the Nigerian Stock Exchange, NSE, on Thursday, November 10, reversed a six-consecutive day negative run.

As such the All Share Index soared by 0.18 percent to close at 26,221.75 points as the year to date losses droppeed to -8.45 percent.

Despite the recovery on the bourse, market breadth still closed negative with 15 gainers paired against 19 losers. Air Service Plc topped the advancers’ chart with a 4.69 percent growth to close at N2.90 per share.

Guaranty Trust Bank trailed behind with a gain of 4.65 percent to close at N21.61 per share, Vitafoam Plc trailed with a 4.60 percent growth to close at N2.50 per share and Fidson Health Care Plc improved by 4.17 percent to close at N1.25 per share. Zenith Bank emerged the top fifth gainer, adding 3.45 percent to close at N14.70 per share.

Conversely, Cadbury Plc topped the losers’ chart by 9.65 percent, to close at N11.70 per share. Forte Oil Nigeria Plc shed 8.50 percent to close at N104.05 per share, while Total Nigeria Plc dropped 8.19 percent to close at N290 per share.

Nigerian Aviation Handling Company of Nigeria Plc declined by 4.94 percent to close at N2.31 per share while Caverton Plc closed at N1.05 per share following a decline of 4.55 percent

Sterling Bank Plc emerged as the most traded stock for the day with 27.7 million shares valued at N22.1 million. Chams Plc followed with 25.1 million shares worth N12.6 million, while Guaranty Trust bank Plc traded 16.9 million shares valued at N366.7 million.

Access Bank Plc with the trade of 11.3 million shares worth N60.2 million bagged the fourth position on the activity chart, while Zenith Bank Plc came fifth having sold 9.7 million shares valued N144.8 million.

Market performance as measured by the total volume traded, dropped by 5 percent to 137.6 million units valued at N990.9 million exchanged in 3,283 deals as against 146.1 million units valued at N1.04 billion transacted in 3,039 deals on Wednesday.