Oando, 27 others lift NSE index by 0.92%

The Nigerian Stock Exchange All-Share Index began the week on a positive note, extending the gains recorded at the close of trading last week after 11 consecutive days of losses.

Trading resumed on Tuesday on the floor of the NSE after public holidays on Friday and Monday to commemorate Eid-el-Fitr.

Specifically, the NSE ASI rose by 284.4 basis points from 31,047.99 basis points on Tuesday to 31.332.39 basis points.

The upturn came on the back of price appreciation by 28 stocks led by Oando Plc, Transnational Corporation of Nigeria Plc and FCMB Group Plc.

The gains also prompted the market capitalisation of the listed equities on the bourse to increase by N97bn or 0.91 per cent to close at N10.725tn, up from N10.628tn.

Of the nine other indices, six appreciated, two depreciated and one unchanged.

The index of the 30 most capitalised stocks on the floor of the NSE was up by 0.93 per cent to close at 1,424.77 basis points; the consumer goods index rose by 1.06 per cent to close at 764.12 basis points; the industrial index gained 0.70 per cent to close at 2,188.53, the lotus Islamic index appreciated by 1.00 per cent, while the recently introduced pension index was up by 0.93 per cent.

Oando Plc, which led Tuesday’s losers, rose by 10.24 per cent or N1.29 to close at N13.89 per share.

It was followed by Transcorp and FCMB, which appreciated by 9.91 per cent and 5.26 per cent to close the day at N2.23 and N3.00 per share, respectively.

Beta Glass Company Plc was up by five per cent to close at N35.91 per share, while Dangote Flour Mills Plc gained 4.92 per cent to close at N3.20 per share.

Twenty stocks recorded price losses on Monday, but were unable to prevent the equities segment of the NSE from closing higher.

Among the key losers were Trans-Nationwide Express Plc, Berger Paints Plc, A.G. Leventis Nigeria Plc, Computer Warehouse Group Plc and Caverton Offshore Support Grp Plc

Transexpr and Berger shed 9.01 per cent and 4.97 per cent to close at N1.01 and N9.36 per share, respectively, while Aglevent, CWG and Caverton declined by 4.96 per cent, 4.91 per cent and 4.88 per cent, respectively to close at N1.15, N3.10 and N3.51 per share.

In all, 1.056 billion shares worth N15.780bn were traded in 3,468 deals on Tuesday, compared to 222.219 million shares valued at N2.838bn in 3,696 deals on Thursday.

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