Nigerian Stock Exchange: Market indicators rise further 0.75%

Nigerian Stock Exchange market capitalisation rebounds by N107bn

Activities on the Nigerian Stock Exchange (NSE) on Wednesday extended gaining streak, with indices rising by 0.75 per cent on renewed investors’ interest.

Specifically, the All-Share Index rose by 180.59 points or 0.75 per cent to close at 24,278.07 compared with 24,097.48 recorded on Tuesday.

Similarly, the market capitalisation which opened at N12.570 trillion grew by N94 billion to close at N12.664 trillion.

The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Julius Berger, Guaranty Trust Bank, Lafarge Africa, Okomu Oil and Zenith Bank.

Market breadth closed positive, with 25 gainers compared with eight losers.

Lafarge Africa led the gainers’ chart in percentage terms, gaining 10 per cent, to close at N11, per share.

It was trailed by Julius Berger with 9.90 per cent to close at N17.20, while Linkage Assurance rose by 9.30 per cent to close at 47k, per share.

Regency Alliance Insurance improved by 9.09 per cent to close at 24k, while Red Star Express garnered 8.90 per cent to close at N3.55, per share.

READ ALSO: Nigerian Stock Exchange market capitalisation rebounds by N107bn

Conversely, Berger Paints drove the laggards’ chart in percentage terms, losing 9.63 per cent, to close at N6.10, per share.

Caverton came second with a loss of 4.40 per cent to close at N1.74, while Ecobank dipped 4.17 per cent to close at N4.60, per share.

Flour Mills declined by 2.70 per cent to close at N18, while Oando lost 2.17 per cent to close at N2.25, per share.

Also, the volume of shares transacted grew by 49.56 per cent as investors bought and sold 232.61 million shares, worth N4.69 billion in 3,523 deals.

This was in contrast with a total of 155.53 million shares valued at N2.60 billion achieved in 4,060 deals on Tuesday.

Fidelity Bank dominated the activity chart with 37.95 million shares valued at N67.23 million.

MTN Communications Nigeria accounted for 27.97 million shares valued at N3.22 billion, while Lafarge Africa sold 23.06 million shares worth N250.49 million.

Guaranty Trust Bank exchanged 18.17 million shares valued at N403.61 million, while Zenith Bank transacted 16.78 million shares worth N276.42 million.

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