The bullish momentum that rocked the Nigerian Stock Market for six straight days was nipped in the bud on Thursday, November 10, as the market made modest recovery.
The market capitalisation surged by N16.5 billion to close at N9.026 trillion.The day’s positive run was linked to the 3.08 percent growth of the banking index which recorded the highest appreciation amongst other sector indices, following gains in Guaranty, Zenith, Access, UBA, Diamond, Sterling, Union and FBN holdings.
The NSE 30 and Mainboard Indices also surged by 0.28 percent and 0.55 percent respectively while the Consumer Goods and Oil & Gas Indices slumped 0.47 and 3.71 percent each.
Although equity investors’ appetite showed significant improvement, market breadth closed negative with 15 gainers against 19 losers.
Air Service Plc was at the top of the gainers chart with a 4.69 percent growth to close at N2.90 per share. While Cadbury Plc led the decliners’ chart by 9.65 percent, to close at N11.70 per share.
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.
At the end of market session, the total volume traded, slid 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.
