NSE Halts Losing Streak, Gains N166.514bn
The Nigerian bourse rebounded Thursday after a week of negative trading sessions.
The All Share Index, the benchmark for Nigerian equities gained 318.29 index point after the close of business on Thursday. The ASI which opened at 40,696.01 basis point, closed at 41,014.30 basis point, indicating a 0.78 per cent appreciation.
Remarkably, the market capitalisation surged by N166.514bn to close at N21.456 trillion as against N21.289 trillion recorded the previous day.
The rise of the market was impacted by gains of Dangote Cement Plc, the most valuable equity on the NSE and four other medium and lower capitalized brands. Amongst which are, Mutual Benefits Assurance, Vitafoam, Unilever Nigeria and Sovereign Trust Insurance.
The market turnover increased astronomically by 247.4 per cent, as 1.274 billion shares worth N6.397 billion in 6,573 deals exchanged hands, compared to 366.858 million shares worth N5.482 billion in 5,718 deals traded the previous day.
Also, the market breadth came out negative with 45 losers compared to seven losers.
The gainers’ table was led in percentage parameters by Dangote Cement Plc, gaining 7.04 per cent to close at N228 per share.
Mutual Benefits Assurance followed with 5.41 per cent to close at 39 Kobo per share, while Sovereign Trust Insurance appreciated by 3.70 per cent to close at 28 Kobo per share.
Vitafoam and Unilever moved up 3.33 and 2.57 per cent to close at N9.3 and N13.95 per share respectively.
Conversely, Livestock and Link Assurance led the losers’ table in percentage terms, declining 10 per cent to close at N2. 25 and 54 Kobo per share respectively.
Nahco Nigeria Aviation Handling Company shed 9.96 per cent to close at N2. 08 per share, while Nigeria Flour Mills fell by 9.88 per cent to close at N7.02. Also, Port paint depreciated by 9.84 per cent to close at N2. 84 per share.
Living Trust Mortgage Bank was the most active stock trading 796,453 million shares worth N493.801 million. While Zenith Bank came out with the biggest value at N885.299 million.
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