Transactions
on the Nigerian Stock Exchange (NSE)
remained upbeat on Thursday with the All-Share Index improving by
0.35 per cent due to gains recorded by major petroleum equities.
The
News Agency of Nigeria (NAN) reported that the index increased by 94.68 points
or 0.35 per cent to close at 26,782.93 against 26,688.25 posted on
Wednesday. In
the same vein, the market capitalisation, which opened at N9.182 trillion rose
by N33 billion to close at N9.215 trillion.
The
Chief Operating Officer, InvestData Ltd, Mr.
Ambrose Omordion, attributed the rally to end of year activities embarked
by market players and quoted companies.
He
said that year end activities of market players to balance their books pushed
up equity prices, adding that investors should only position in dividend paying
stocks with earnings capacity for dividend payment.
Total
led the gainers’ table, growing by N11.88 to close at N299 per share. Seplat followed with a gain of N9.49 to close
at N379 and Guaranty Trust Bank gained N1.35 to close at N24.74 per share. Okomu Oil added 65k to close at N40.17, while
Ashaka Cement grew by 57k to close at N12.02 per share.
On
the other hand, Forte Oil topped the losers’ chart with a loss of N10.07 to close
at N93.54 per share.
Mobil
trailed with a loss of N2 to close at N290 and Stanbic IBTC shed 66k to close
at N15 per share. Access
Bank was down by 19k to close at N5.78, while Champion Breweries declined by
12k to close at N2.38 per share.
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