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Nigerian Stocks grew marginally midweek

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NSE market indices sustain growth on impressive Q1 earnings

Activities on the Nigeria equities market ended on a marginal positive high on Wednesday as the market gained 0.08 percent over Tuesday’s position when the All Share Index (ASI) surged upward to close at 27,120.39 over the previous day’s 27,098.52.

With a total of 2,396 deals on the day, Market Capitalization closed the day at N9,315,318,611,072 above Tuesday’s figure of N9,307,809,427,243.

Unilever led the advanced party as it gained N2.11 to close at N48.01 per share, representing 4.6 percent growth. Betaglass was next in line with 1.61 percent increase that brought it to N31.5 per share above the previous day’s value of N31. Nigerian Breweries also grew by N0.5 above Tuesday’s price of N145.5 leaving it with 0.34 percentage growth. Etranzact closed at N5.12 and percentage growth of 10.11 having gained N0.47. Dangote Sugar completed the top five gainers with 4.5 percent as it recorded a positive growth of 28 kobo to close at N6.50 per share.

Top on the losing side was Forte Oil as it closed the day with N123.50 against N127.30 meaning 2.99 percent decrease. Nestle Plc lost N2.05 to close at N800 and 0.26 percentage loss. Julius Berger lost 5 percent as it recorded a negative growth of N2. 00 to close at N38. UACN ended the day at N18.43 which represent 5 percent decrease having closed the previous day at N19.40, while Capital Hotels also declined by 18 kobo to close at N3.50 per share with 4.89 loss percent.

FBN Holdings top traded stocks on the day as it traded 53.809 million shares valued at N161.446 million, Unilever traded 14.294 million stocks with a value of N685,721,294.

Transcorp sold 11.551 million stocks valued at N11.579 million to complete the top three slots.

Sunday Ojelabi

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective.The Verge Communications (NEWSVERGE) is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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