Nigerian Stocks rally boosted by Zenith Bank, UBA, Dangote

 Nigerian Stocks rally boosted by Zenith Bank, UBA, Dangote

Nigerian Stocks rally boosted by Zenith Bank, UBA, Dangote.

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Thursday was the first time the Nigerian stocks have risen this week as the benchmark index climbed by 0.17%, but the gain wasn’t enough to counter the losses of the past couple of days.

The all-share index rose 68.01 basis points to 39,252.19 index points. Similarly, market capitalization has increased to N20.5 trillion. Since the beginning of the year, the index has decreased by 2.53%.

Dangote Cement combined with Zenith and UBA, as well as Access Bank, are among the other stocks which contributed to the rise.

Its shares worth N471.2 million changed hands in 526 transactions on Thursday, making it the most preferred stock on Thursday.

In 93 transactions, 36.1 million shares of Transcorp valued at N32.5 million were traded. 18 million Honeywell shares at a value of N72.4 million were traded in 300 transactions.

In contrast, market breadth was slightly negative, with 18 losers emerging compared to 16 gainers.

Top 5 gainers

A growth of 4.76% was recorded in Chams to N0.22. N0.48 is the closing price for Prestige, up 4.35%. A 3.66% rise in Wema brought it to N0.85. Mansard topped N0.99 with a 3.49% gain. Berger moved up 2.97 % to land on N26 to round out the top 5.

Top 5 losers

N0.53 was down 8.62% at Unity Bank. With a loss of 7.03%, Oando fell to N4.10. Union Bank recorded a 6.54% drop to N5. As of N0.49, FTN Cocoa is down by 5.77%. N3.90 was the closing price for Honeywell on Monday after a drop of 4.88%.

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Olumide Adesina

Olumide Adesina a France-born Nigerian, a Certified Investment Trader, with more than a decade of working expertise in Investment and Trading. He is also a reputable author and writer for CoinDesk and FxEmpire.

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