Stock market recovers N147b

By Bamidele Ogunwusi

Correspondent, Lagos


Trading on the floor of the Nigerian Bourse closed northward on Tuesday when both indicators closed in green, appreciating by 1.34 per cent each.

Market Capitalisation closed higher at N11.1524 trillion after it appreciated by N147.712 billion as against N11.004 trillion it recorded on Monday, while the All Share Index closed at  33,670.75 points after it appreciated by 445.91 basis points or 1.34 percent as against 33,224.84 points recorded in the previous trading day.

Meanwhile, investors bought and sold a total of 280.704 million shares valued at N3.738 billion in 5,118 transactions as against 490.894 million shares valued at N6.992 billion in 5,470 transactions recorded on Monday with the financial services sector accounting for a total of 223.557 million shares valued at N2.120 billion in 2,874 transactions as against 392.128 million shares valued at N3.151 billion in 2,658 transactions recorded on Monday.

However, the banking sub-sector of the financial services sector was the most active during the day when investors bought and sold 145.622 million shares valued at N1.603 billion in 1,641 transactions as against 107.979 million shares valued at N1.820 billion in 1,387 transactions recorded the previous day.

At the close of trading, 46 companies made it to the gainers’ table as against 29 on Monday, while 13 were on the laggards’ table as against 33.

After heavy losses recorded last week, Nestle Nigeria, led 45 others on the advancers’ table when it appreciated by N65.00 to close at N925.00 per share, followed  Forte Oil, which added N18.10 to close trading at N202.65 per share.  Mobil Nigeria notched up 758 kobo to close at N161.50 per share, Nigerian Breweries added 747 kobo to bring its share price to N156.89 per share, while 7UP Bottling Company gained 675 kobo to close at N141.75 per share, among others.

Seplat Petroleum Development Company led the decliners’ table when it went down by N26.26 to close at N508.53 per share, followed by Dangote Cement which lost 895 kobo to close at N170.16 per share. Flour Mills of Nigeria shed 291 kobo to close at N55.42 per share, Champion Breweries dropped 107 kobo to close at N9.94 per share.

Source : Independent

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