Africa Press-Nigeria:
The market capitalisation of the Nigerian Stock Exchange (NSE) on Thursday advanced by N26 billion to hit N13 trillion mark.
Specifically, the market capitalisation closed higher at N13.005 trillion compared with N12.979 trillion recorded on Wednesday.
In the same vein, the All-Share which opened at 24,882.04 improved by 48.30 points or 0.19 per cent to close at 24,930.34.
The upturn was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Seplat, Stanbic IBTC Holdings, Guinness Nigeria, MTN Nigeria Communications and NASCON Allied Industries.
Capital market analysts noted that the domestic equities market sustained its bullish streak for the fifth consecutive session, following continued interest in banking stocks.
Analysts at Afrinvest Limited said that “following four consecutive bullish sessions and profit-taking witnessed earlier, we could see profit-taking activities drag market performance in the next trading session.
“However, we expect the equities market to close on a positive note for the week.”
Market sentiment, as measured by the market breadth, was positive with 20 gainers and 10 losers.
Seplat led the gainers’ chart in percentage terms, gaining 9.03 per cent, to close at N350 per share.
