Stock Market Closes Higher on Increased Buying Interest

The stock market closed on a positive note on Thursday, as performance indices grew by 0.52 per cent due to increased buying activity.

Market capitalisation rose by N479 billion, or 0.52 per cent, to close at N92.730 trillion, compared with N92.251 trillion on Wednesday.

Similarly, the All-Share Index (ASI) increased by 756.85 points, or 0.52 per cent, to settle at 146,570.71.

The uptrend was driven by strong buying interest in medium- and large-capitalised stocks, such as AIICO Insurance, Cornerstone Insurance, AXA Mansard Insurance, University Press, and 40 other stocks.

Also, the market breadth closed positive with 44 gainers and 34 losers.

On the advancers’ table, AIICO Insurance rose by 10 per cent, closing at N3.19, while Cornerstone Insurance also grew by 10 per cent, finishing at N5.83 per share.

AXA Mansard soared by 10 per cent, settling at N13.31, and University Press also gained by 10 per cent, ending the session at N5.61 per share.

Guinness Nigeria increased by 9.98 per cent, closing at N141.60 per share.

On the flip side, CHAMS dropped by 9.94 per cent, settling at N2.90, while Austin Laz fell by 9.83 per cent, ending the session at N2.11 per share.

Caverton Offshore Support Group dipped by 9.65 per cent, closing at N6.37, and UAC of Nigeria lost 9.44 per cent, finishing at N81.50 per share.

Similarly, John Holt Plc declined by 9.43 per cent, closing at N7.20 per share.

Over 1.98 billion shares worth N27.26 billion were exchanged across 35,291 transactions, compared to 2.69 billion shares valued at N32.6 billion that were traded across 35,137 deals earlier recorded.

Transactions in the shares of Linkage Assurance topped the activity chart with 372.40 million shares worth N703.1 million.

Prestige Assurance followed with 249.33 million shares valued at N357.45 million, while Veritas Kapital Assurance transacted 181.86 million shares worth N362.99 million.

Sterling Nigeria traded 121.02 million shares valued at N968.29 million, and Lasaco Assurance sold 58.7 million shares worth N217.5 million.

(NAN)