The Nigerian stock market maintained its upward momentum on Thursday, following the listing of 19.803 billion shares of FCMB Plc at 50k per share. This resulted in an additional N347 billion gain, bringing the market capitalisation to N64.868 trillion, up from N64.521 trillion.
The All-Share Index also gained 0.19%, closing at 104,744.43, compared to 104,549.74 recorded on Wednesday. As a result, the Year-To-Date (YTD) return increased to 1.77%.
The market breadth remained positive, with 39 gainers and 25 losers. Leading the gainers were Chellarams Plc and Honeywell Flour, both rising by 10% to N5.94 and N9.35, respectively. Other significant gainers included NNFM, Red Star Express, and Sky Aviation, all posting nearly 10% gains.
On the losing side, Guinea Insurance Plc led the declines with a 10% drop to 72k, followed by RT Briscoe, Veritas Kapital Assurance, and May & Baker.
Despite these gains, trading activity on the exchange declined by 21.04% in both volume and value. A total of 497.36 million shares worth N11.84 billion were traded across 13,716 deals, compared to 421.62 million shares valued at N15 billion in the previous session.
FBN Holdings topped the activity chart, with 83 million shares exchanged across 287 deals, amounting to N2.4 billion.
Credit: NAN (Text Excluding Headline)
