NSE market indicators rebound by 0.81%

Activities on the Nigerian Stock Exchange (NSE) closed upbeat for the first time in the second quarter after dropping for two-consecutive days.

Our correspondent reports that market indices on Wednesday appreciated by 0.81 per cent.

It was driven by price growth posted by Mobil Oil following NIPCO complete acquisition.

The All-Share Index closed higher at 25,471.69 points from 25, 266.15 achieved on Tuesday, representing a growth of 205.54 points or 0.81 per cent.

Similarly, the market capitalisation which opened at N8.742 trillion inched N71 billion or 0.81 per cent to close at N8.813 trillion.

A breakdown of the price movement chart indicated that Mobil Oil led the gainers’ table with N32.28 to close at N347.28 per share.

7UP Bottling Company followed with a gain of N8.89 to close at N95.89 and Lafarge Africa improved by N4.42 to close at N47.62 per share.

Forte Oil appreciated by N1 to close at N46 and Oando chalked up 53k to close at N5.78 per share.

On the other hand, PZ Industries recorded the highest loss to lead the losers’ chart, declining by 72k to close at N13.87 per share.

Ecobank Transnational Incorporated trailed with a loss of 39k to close at N8.05 and Nigerian Breweries declined by 20k to close at N124.80 per share.

UACN dipped 11k to close at N15.01, while Trans Express depreciated by 8k to close at 90k per share.

Fidelity Bank dominated trading activities for the day, accounting for 49.42 million shares worth N39.09 million.

Zenith International Bank followed with an exchange of 24.34 million shares valued at N351.75 million, while United Bank for Africa sold 10.52 million shares worth N55.20 million.

It was trailed by Guaranty Trust Bank which traded 10.44 million shares valued at N252.92 million and Transcorp exchanged 7.21 million shares worth N5.24 million.

In all, investors staked N1.13 billion on 158.71 million shares transacted in 3,048 deals compared with 180.27 million shares worth N1.62 billion sold in 2,917 deals on Tuesday.