On Thursday, participants in the Nigerian stock market enjoyed a substantial boost, with a total gain of N170 billion recorded by the end of trading.
This upswing was driven by notable increases in the share prices of companies including PZ Plc, Eterna Plc, and Champion Breweries, among others, which saw significant activity on the trading floor.
The All-Share Index (ASI), a key market indicator, climbed to 142,979.46 points, up from the previous day’s 142,710.48 points.
Following five hours of market activity, the total equity market capitalization rose to N90.7 trillion, marking an increase from the N90.5 trillion reported earlier in the week.
Market sentiment was predominantly positive, with 34 stocks advancing, 26 declining, and 87 remaining stable across 32,682 transactions.
PZ Plc, Eterna Plc, and Champion Breweries were among the top performers, with their share prices appreciating by 10%, 9.94%, and 9.82% respectively, closing at N37.95, N37.05, and N15.10, compared to their previous prices of N34.50, N33.70, and N13.75 per share.
Conversely, RT Briscoe, Thomas Wyatt Plc, and Sovereign Insurance Plc experienced declines, with their share prices dropping by 9.89%, 9.82%, and 9.33%, settling at N3.37, N3.58, and N2.72 per share, down from N3.74, N3.97, and N3.00 respectively.
In terms of trading volume, United Bank for Africa (UBA) led the market with 152 million shares exchanged across 1,514 deals, closely followed by Wema Bank Plc, which also traded 152 million shares but in 866 transactions.
First HoldCo Plc recorded a significant volume as well, with 111 million shares traded in 510 deals.
Regarding the value of shares traded, UBA topped the list with transactions worth N6.3 billion, while First HoldCo Plc and Stanbic IBTC followed, with equities valued at N3.4 billion each, traded in 510 and 548 deals respectively.
Babajide Okeowo