Stock market extends bullish trend as ASI grows by 0.07%

By Cynthia Ezekwe

The Nigerian stock market extended the bullish trend on Thursday  as the All Share Index appreciated by 0.07 per cent  to close at 55,808.25 points, against  the previous close of 55,769.28 points.

The Market Capitalisation grew by 0.07 per cent  to close at N30.388 trillion from the previous close of N30.367 trillion, thereby adding N21 billion.

A total of 390 million units of shares were traded in 7,725 deals, valued at N5.7 billion.

The Market Breadth closed positive as 30 equities appreciated in their share prices  against 20 equities that declined in their share prices.

CONOIL led other gainers chart with a  9.92 per cent  growth to close at N63.70; Sterling Bank, Eterna Oil and Cornerstone Insurance among other gainers also grew their share prices by 9.76 per cent, 9.74 per cent  and 8.97 per cent  respectively.

However, FTN Cocoa led the losers table  as it shed 9.88 per cent  of its share price to close at N0.73; Champion Breweries and MCNICHOLS among other price decliners also lost their share prices by 9.62 per cent and 9.21 per cent  respectively.