The all-share index grew 14.1 basis points to 44,332.2, while market capitalisation marginally climbed to N24.1 trillion.
Nigerian stocks Thursday took a breather from a string of depreciations leading up to the biggest three-day slide of the year to date, with the benchmark index moving 0.03 per cent up as the size of trade fell 28 per cent and turnover by 13 per cent compared to the previous session.
Unusually high sales of the shares of Airtel Africa, Nigeria's biggest company by market value, has had sweeping reverberations across the market for days, causing the bourse's market capitalisation to shed about N1.8 trillion Monday through Wednesday.
"There was news around them acquiring some spectrum in some African countries, the market is not excited about it," Reuters quoted an equity trader as saying that of the telecoms operator, further saying profit-taking had triggered the trend.
A halt to the free fall on Thursday was a relief, even though an inconsiderable one, to the main equity index, which on 27 May touched its peak point in almost fourteen years but now lies at its lowest since the second week of January.
The flattish trade meant market breadth, an indicator of investors' sentiment towards trade, closed neutral as gainers and laggards numbered 17 apiece.
The all-share index grew 14.1 basis points to 44,332.2, while market capitalisation marginally climbed to N24.1 trillion.
Currently, stocks have returned 3.9 per cent this year, roughly eight times lower than the high recorded on 27 May.
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TOP FIVE GAINERS
CWG appreciated by 9.6 per cent to close at N0.80. UPDC enlarged by 8.9 per cent to end trade at N3.05. Japaul Gold rose to N0.28, notching up 7.7 per cent in the process. WAPIC went up by 5.9 per cent to N0.36. Dangote Sugar completed the top 5, climbing by 3.92 per cent to N15.9.
TOP FIVE LOSERS
Beta Glass led losers, declining by 9.98 per cent to close at N41.50. Aluminium Extrusion shed 9.7 per cent to end trade at N6.50.
Mutual Benefits fell to N0.28, losing 9.68 per cent. RT Briscoe slumped to N0.28, recording 9.68 per cent depreciation. Regal Insurance closed at N0.24, going down by 7.7 per cent.
TOP FIVE TRADES
In all, 119.2 million shares estimated at N3.2 billion were traded in 2,909 deals.
CWG was the most active stock with 39.4 million of its shares worth N149 million traded in 257 deals. GTCO's shares of 8.3 million units, priced at N154 million, exchanged hands in 331 transactions.
Japaul Gold had 6.8 million shares valued at N1.9 million traded in 26 deals. Jaiz traded 4.4 million shares estimated at N3.9 million in 45 transactions. Access Holdings traded 4.4 million shares valued at N35.4 million in 126 deals.
