NSE Rebounds Slightly on Thursday to Gain N7.9bn

• NSE Rebounds Slightly on Thursday to Gain N7.9bn

The Nigerian Stock Exchange (NSE) gained N7.5 billion on Thursday following days of losses.

Market capitalisation of the exchange increased slightly from N11.236 trillion on Wednesday to N11.244 trillion on Thursday.

The All-Share Index declined by 0.1 percent to 29,919.77 basis points while the year-to-date return moderated to -4.8 percent.

Activity level was aided by the surge in volume traded on Japaul Oil and Maritime Services Plc. The total volume and value traded advanced by 14.4 percent and 12.4 percent to 348.7 million units and N3 billion, respectively.

The top-traded stocks by volume were Japaul Oil and Maritime Services Plc (94.4 million units), Transnational Corporation of Nigeria Plc (31 million units) and Unilever Nigeria Plc (30 million units), while Unilever (N929.5m), Zenith Bank Plc (N420.4m) and Guinness Nigeria Plc (N294.3m) were the top traded stocks by value.

Analysts at Afrinvest Securities Limited said, “Following Thursday’s positive performance, we do not rule out the possibility of profit-taking in Friday’s trading session amid corporate earnings releases.”