NSE transactions upbeat, index posts 0.48% growth

Activities on the Nigerian Stock Exchange (NSE) resumed for the week on Monday on a positive trend with the All-Share Index improving by 0.48 per cent.

Our correspondent reports that the index rose by 155.43 points or 0.48 per cent to close at 32,614.60 against 32,459.17 achieved on Friday.

Also, the market capitalisation which opened at N11.187 trillion inched N53 billion or 0.47 per cent to close at N11.240 trillion.

It was reported that Flour Mills led the gainers’ table for the day, gaining N2.22 to close at N25 per share.

Zenith Bank followed with a gain of 71k to close at N21.31 and Ecobank Transnational appreciated by 48k to close at N12.87 per share.

Access Bank increased by 45k to close at N9.58, while United Bank for Africa added 42k to close at N8.92 per share.

On the other hand, Seplat recorded the highest loss to lead the losers’ table, dropping by N2 to close at N465 per share.

Nigerian Breweries trailed with a loss of 99k to close at N153.01, while Union Bank was down by 54k to close at N5.58 per share.

Cadbury shed 51k to close at N11.99 and Stanbic IBTC depreciated by 50k to close at N31 per share.

In spite of the growth posted by market indices, the volume of shares traded closed lower as investors staked N2.03 billion on 182.07 million shares exchanged in 3,710 deals.

It was reported that this was in contrast with 212.38 million shares worth N2.47 billion traded in 3,217 deals on Friday.

The banking stocks were the most active with Guaranty Trust Bank emerging toast of investors, exchanging 26.46 million shares valued at N908.97 million.

FCMB Group came second with 18.72 million shares worth N23.16 million and Zenith Bank traded 15.66 million shares valued at N330.17 million.

Diamond Bank sold 13.87 million shares worth N17.23 million and FBN Holdings exchanged 11.53 million shares valued at N71.26 million.