Indices Rise As Bullish Transactions Persist On The Exchange

NSE, Investors

Trading on the floor of the Nigerian Stock Exchange yesterday continued to be bullish, as major market indices, the All-share Index and market capitalisation appreciated significantly by 1.88 per cent each.

The All-Share index went up by 612.54 bases points or 1.88 per cent to close at 33,269.87 points from 32,657.30 it closed on Wednesday, while market capitalisation rose by N211.9 billion, to close at N11.505 trillion from N11.293 trillion it closed on the previous day.

Seplat petroleum development Company led the gainers’ table when it added by 500 kobo to close at N465.00 per share, followed by Dangote Cement which added 498 kobo to close at N204.98 per share, Nigerian Breweries raked in 419 kobo to close at N158.72 per share, PZ Cussons grabbed 207 kobo to close at N22.97 per share, while Mobil Oil recorded 202 kobo to close at N250.02 per share, among others.

On the other hand, Chemical and Allied Products led decliners’ table when its shares went down by 125 kobo to close at N32.00 per share, followed by Guaranty Trust Bank which slipped by 30 kobo to close at N37.7 per share, May & Baker dropped 22 kobo to close at N4.29 per share, Livestock Feeds lost 5 kobo to close at N1.00 per share, while Transnational Incorporated depreciated by 4 kobo to close at N1.46 per share, among others.

Performance across sectors was bullish as all indices closed northward. The industrial goods index emerged top gainer, up 2.3 percent on account of gains in Dangote Cement (+2.5%) and Lafarge Cement WAPCO (+2.9%). The consumer goods index followed, adding 1.6 per cent, against the backdrop of sustained buying interest in Nigerian Breweries (+2.7%) and PZ Cussons (+9.9%) while the banking index (+1.5%) trailed owing to positive sentiment towards United Bank for Africa (+5.2%) and Stanbic IBTC (+5.0%).

Source : Independent

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