Stock Market Regains Strength

The Nigerian Stock Exchange (NSE) regained strength yesterday with the NSE-ASI appreciating by 1.34 per cent or 445.84 to close at 33,670.84 points from the 33,224.84 achieved on Monday.

Similarly, market capitalisation went up by N148 billion to close at N11.152 trillion as against the N11.004 posted on Monday.

Nestle recorded the highest price gain of N65 to close at N925 per share while Forte Oil appreciated by N18.10 to close at N202.65, and Mobil rose by N7.58 to close at N161.50 per share.

Nigerian Breweries Plc went up by N7.47 to close at N156.89 per share while Seven Up gained N6.75 to close at N141.75.Conversely, Seplat led the losers’ chart by N26.76 to close at N508.53 per share. It was trailed by Dangote Cement with a loss of N8.95 to close at N170.16, while Flourmill depreciated by N3.91 to close at N55.42.

Champion Breweries lost N1.07 to close at N9.94, while Portland Paint shed by 41 kobo to close at N4.82 per share.

Meanwhile, total transaction traded went down by 42.8 per cent as investors bought 280.704 million shares valued at N3.74 billion in 5,118 deals as against 490.895 million shares valued at N6.99 billion traded in 5,470 deals on Monday.

The financial services sector remained the toast of investors as Diamond Bank emerged the most traded equity, accounting for 36.18 million shares valued at N210.7 million. FBN Holdings followed with 34.18 million shares worth N357.8 million, while Guaranty Trust Bank accounted for 31.98 million shares valued N785.51 million.

FCMB traded 29.04 million shares worth N98.74 million, while UBA exchanged 28.55 million shares valued at N145.6 million.


Source : Leadership

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