NSE: Market indices open March with 0.34% growth

Transactions on the Nigerian Stock Exchange (NSE) opened for the month of March on a positive trend, after declining for three consecutive days.

Our correspondent reports that the crucial market indices rebounded by 0.34 per cent with Nestle leading the gainers’ pack.

Specifically, the All-Share Index inched 108.54 pointed or 0.34 per cent to close at 31,827.24 compared with 31,718.70 recorded on Thursday.

Similarly, the market capitalisation which opened at N11.828 trillion rose by N40 billion or 0.34 per cent to close at N11.868 trillion.

Nestle recorded the highest price gain to lead the gainers’ table, gaining N40 to close at N1,510 per share.

Total followed with a gain of N10 to close at N200, while Dangote Cement added N1.30 to close at N196.60 per share.

C &I Leasing improved by 66k to close at N7.27, while Nigerian Breweries increased by 50k to close at N80 per share.

Conversely, Unilever topped the losers’ chart, dropping by N2.30 to close at N38.70 per share.

International Breweries trailed with a loss of N1.25 to close at N25, while Dangote Flour shed N1 to close at N9.90 per share.

Dangote Sugar declined by 35k to close at N14.65, while Union Bank of Nigeria was down by 30k to close at N6.70 per share.

However, the volume of shares exchanged stood at 341.95 million shares valued at N3.75 billion transacted in 4,513 deals.

This was in contrast with a turnover of 411.69 million shares worth N5.27 billion traded in 5,320 deals on Thursday.

Zenith Bank was the most active stock, exchanging 64.51 million shares valued at N1.55 billion.

Diamond Bank followed with an account of 44.27 million shares worth N102.09 million, while Transcorp traded 43.39 million shares worth N54.53 million.

Access Bank exchanged 37.89 million shares valued at N220.74 million, while Fidelity Bank sold 21.57 million shares worth N47.87 million.