By Seun Ibiyemi
The Nigerian stock market extended its bullish run on Thursday, adding N369 billion to investors’ wealth despite a decline in trading activity.
A total of 652.86 million shares valued at N39.82 billion were traded in 51,101 deals, representing a drop from the 1.01 billion shares worth N40.57 billion exchanged in 52,723 transactions recorded on Wednesday.
Market analysis showed a 35.17 per cent decline in trading volume, alongside a two per cent dip in value and a three per cent fall in the number of deals.
Despite the slowdown in activity, investor sentiment remained positive, driven by sustained demand for stocks such as Trans-Nationwide Express, International Energy Insurance, UPDC, Guinea Insurance and Regency Alliance Insurance, among others.
As a result, market capitalisation rose by 0.28 per cent, increasing from N130.404 trillion at the opening of trading to N130.773 trillion at the close.
Similarly, the All-Share Index advanced by 576.27 points, or 0.28 per cent, to settle at 203,161.81, compared to 202,585.54 recorded in the previous session. This pushed the year-to-date return to 30.56 per cent.
However, market breadth closed on a negative note, with 31 losers outweighing 30 gainers.
LivingTrust Mortgage Bank led the losers’ chart with a 10 per cent decline to close at N4.32 per share. RT Briscoe followed with a 9.94 per cent drop to N8.88, while Tantalizers fell by 9.55 per cent to N3.98.
Also, Livestock Feeds declined by 9.40 per cent to N6.75, and VFD Group shed 8.85 per cent to close at N10.30 per share.
On the gainers’ side, Trans-Nationwide Express topped the chart with a 9.94 per cent increase to N3.43. International Energy Insurance rose by 9.84 per cent to N3.46, while UPDCredit gained 9.63 per cent to close at N7.40 per share.
Guinea Insurance appreciated by 9.52 per cent to N1.15, and Regency Alliance Insurance advanced by 9.18 per cent to N1.07 per share.
In terms of trading volume, Access Corporation recorded the highest activity with 121.70 million shares exchanged, while Guaranty Trust Holding Company posted the highest value of trades at N8.10 billion.
