NSE index sustains growth by 0.54%

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NSE index sustains growth by 0.54%

By Chinyere Joel-Nwokeoma

Activities on the Nigerian Stock Exchange (NSE) maintained a positive trend for the fourth consecutive trading day in a roll due to second quarter earnings expectations.

The News Agency of Nigeria (NAN) reports that the All-Share Index of Thursday rose by 180.90 points or 0.54 per cent to close at 33,695.83 against 33,514.93 on Wednesday.

Also, the market capitalisation which opened at N11.550 trillion appreciated by N63 billion or 0.55 per cent to close at N11.613 trillion, amid price appreciation.

Market analysts attributed market resilience to earnings expectations that had kicked off in the market and positive economic data released by the National Bureau of Statistics (NBS).

A breakdown of the price movement table indicated that Nestle recorded the highest gain to lead the gainers’ chart with N16.50 to close at N920 per share.

Lafarge Africa followed with a gain of N2.60 to close at N54.60 and Dangote Cement garnered one Naira to close at N209 per share.

UACN added 81k to close at N17.39, while Flour Mills grew by 58k to close at N25.73 per share.

Conversely, Mobil Oil topped the losers’ chart, dropping by N5.50 to close at N254.50 per share.

7UP trailed with a loss of N4.74 to close at N90.21 and Total shed N3.39 to close at N256.11 per share.

PZ declined by 80k to close at N21.25 and CAP depreciated by 44k to close at N35 per share.

However, the volume of shares traded dropped by 42.24 per cent as investors bought and sold 191.43 million shares valued at N2.18 billion in 3,718 deals.

This was against a turnover of 331.43 million shares worth N3.24 billion exchanged in 4,055 deals on Wednesday.

The Financial Services Industry remained the toast of investors with Prestige Assurance emerging the most active with an exchange of 26.76 million shares valued at N13.38 million.

Guaranty Trust Bank came second with 18.75 million shares worth N692. 37 million and Transcorp sold 15.84 million shares valued at N23.88 million.

FBN Holdings accounted for 13.88 million shares worth N84.50 million, while Zenith International Bank traded 11.15 million shares valued at N245. 64 million. (NAN)


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