Trading sustains growth on NSE, up by 0.07%

Activities on the Nigerian Stock Exchange (NSE) for the second consecutive day on Wednesday ended positively, with the market capitalisation growing by N6 billion.

Newsverge reports that the market capitalisation which opened at N8.750 trillion, rose by N6 billion or 0.07 per cent, to close at N8.756 trillion.

Similarly, the All-Share Index increased by 16.67 points or 0.07 per cent, to close at 25,301.23, against the 25,284.56 posted on Tuesday.

Guinness recorded the highest gain to lead the gainers’ chart, gaining N2 to close at N70 per share.

Unilever trailed with a gain of N1.60 to close at N33.90 and Stanbic IBTC improved by 50k to close at N18.50 per share.

Zenith Bank garnered 39k to close at N14.15, while Cement Company of Northern Nigeria garnered 20k to close at N4.50 per share.

On the other hand, Nestle led the losers’ table with a loss of N4.99 to close at N730 per share.

Forte Oil came second with a loss of N2.19 to close at N47.81 and Seplat lost N1 to close at N388 per share.

Ashaka Cement dipped 36k to close at N10, while Nigerian Breweries dropped 30k to close at N130.70 per share.

The volume of shares traded appreciated marginally by 2.64 per cent, with a total of 233.78 million shares worth N2.16 billion, exchanged in 3,196 deals.

This was in contrast with a turnover of 227.76 million shares valued at N928.49 million transacted in 2,543 deals on Tuesday.

The financial services sector remained the toast of investors with Diamond Bank emerging the most-traded with 95.75 million shares worth N82. 40 million.

FBN Holdings came second having accounted for 42 million shares valued at N131.55 million and Fidelity Bank sold 19.13 million worth N15.89 million.

UCAP traded11.17 million valued at N31.19 million, while UBA transacted 10.48 million shares worth N54. 47 million.