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Nigeria: Nigerian Stocks Rise Further On Buy Pressure On Stanbic IBTC Holdings

Twenty three gainers were recorded compared to 12 losers.

Nigerian stocks jump 0.53 per cent further Thursday as investors’ exuberance for and buy pressure on Stanbic IBTC Holdings shares drove trade, a day after the financial services group announced twin compensations for shareholders.

The group on Wednesday announced N3.60 per share final dividend and a bonus issue of one new share for every six held.

Gains by Stanbic IBTC shares contributed N29.870 million to market capitalisation as wireless operator MTN and UPDC REIT also lifted trade.

The insurance index emerged the day’s biggest riser of the five sectorial indices, advancing 0.81 per cent to 200.09 points.

Twenty three gainers were recorded compared to 12 losers, causing the market to close with a positive breadth.

The all-share index inched up by 207.36 points to close at 39,293.14, while market capitalisation leapt to N20.558 trillion.

Year to date, the index is down by 2.43 per cent.


Wapic led gainers, appreciating by 10 per cent to close at N0.55. UPDCREIT grew by 9.80 per cent to end trade at N5.60. Pharma Deko went up by 9.63 per cent to N1.48. Neimeth rose to N1.95, notching up 9.55 per cent in the process. GSK completed the top 5, climbing up by 9.45 per cent to N6.95.


Sovereign Trust Insurance topped the losers’ chart today declining by 8.33 per cent to close at N0.22. NPF Microfinance Bank shed 7.22 per cent to end trade at N1.80. Prestige fell to N0.41, losing 6.82 per cent in the process. Japaul Gold dipped to N0.43, recording 4.44 per cent depreciation. Dangote Sugar closed at N16.40, going down by 2.67 per cent.


229.417 million shares estimated at N3.780 billion were traded today in 4,016 deals, with liquidity dropping by 37 per cent.

Union Bank was the most active stock as 79.567 million of its shares worth N421.700 million traded in 29 deals. 19.276 million units of Union Bank shares priced at N598.972 million exchanged hands in 355 transactions.

Zenith had 12.085 million shares valued at N265.897 million traded in 382 deals. MTNN traded 10.072 million shares estimated at N1.613 billion in 157 transactions. Oando traded 9.512 million shares valued at N31.283 million in 157 deals.