Stock Market Rebounds Post-Xmas, Up 1.23%
Umoru Abdulkadir
Trading on the floor of the Nigerian Stock Exchange on Friday, the first trading session after Christmas celebration and the last trading day of the week, rebounded from its losing streak, gaining 1.23 per cent to close at 26,416.48 points.
Accordingly, the All-Share Index inched up 325.60 basis points or 1.23 per cent to close at 26,416.48 points higher than 26,090.88 points recorded on Tuesday, while the market capitalisation of listed equities which opened at N12.596 trillion closed higher at N12.753 trillion.
Today’s market upturn was as a result on the gains recorded in Nestle Nigeria Plc, Stanbic IBTC Holdings, and UACN stocks, among others.
Top of the gainers’ chart at the end of trading today was Nestle Nigeria which appreciated by N130 to close at N1430 per share, followed by Stanbic IBTC Holdings Plc, when it gained 260 kobo to close at N39 per share. UACN achieved 45 kobo appreciation to finish at NN8.55 per share.
While National Salt Company of Nigeria nicked 40 kobo to close at N12.9 per share, UPDC Real Estate Investment Trust advanced by 35 kobo to close at N4.3 per share to round off the table for the top five gainers on Friday.
On the other hand, Guinness Plc led the worst-performing stocks losing 200 kobo to close at N30.05 per share, May & Baker Pharmaceuticals Plc followed with 21 kobo loss to close at N1.93 per share. Unilever Plc which led the gainers’ chart on Tuesday, before the Christmas break shed 15 kobo to close at N22 per share.
While Sterling Bank dropped 11 kobo to close at N1.94 per share, Oando Plc dipped 7 kobo to close at N3.68 per share, among others.
A breakdown of the activity chart showed that banking dominates transactions on the day, as Access Bank emerged most actively traded stocks, accounting for 42.03 million shares estimated at N418.40 million, followed by United Bank for Africa which exchanged 28.37 million shares worth N577.4 million. Guaranty Trust Bank traded 22.78 million shares valued at N660.52 million.
While Jaiz Bank accounted for 22.49 million shares worth N 14.02 million, Sterling Bank Plc had a turnover of 15.57 million shares valued at N29.46 million to boost market turnover and value list.
Overall, investors traded a total of 222.5 million shares worth N3.04 billion in 2,540 deals in contrast to 324.4 million shares valued at N1.66 billion achieved in 1,993 deals on Tuesday.
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