NSE market indices record 0.02% marginal growth

The market indicators of the Nigerian Stock Exchange (NSE) closed marginally on Wednesday with a growth of 0.02 per cent.

Specifically, the All-Share Index (ASI) rose by 6.53 points or 0.02 per cent to 27,878.43 against 27,871.90 recorded on Tuesday.

Also, the market capitalisation increased by three billion naira to N14.519 trillion in contrast with N14.516 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; CI Leasing, UACN, Access Bank, Lafarge Africa and Africa Prudential.

Analysts at Afrinvest Limited stated that “Despite today’s slight gain, we maintain a bearish outlook on the market due to waning investor sentiment.”

Africa Prudential recorded the highest price gain in percentage terms with 2.17 per cent, to close at N4.70 per share.

UACN followed with a gain 2.15 per cent to close at N9.50, while Access Bank appreciated by 2.08 per cent to close at N9.80 per share.

United Bank for Africa rose by 1.95 per cent to close at N7.85, while Nigerian Aviation Handling Company (NAHCO) appreciated by 1.46 per cent, to close at N2.78 per share.

Conversely, Vitafoam Nigeria led the losers’ chart in percentage terms, dropping by 9.94 per cent to close at N4.53 per share.

Skyway Aviation Handling Company followed with a decline of 9.50 per cent to close at N3.05, while Royal Exchange dipped eight per cent to close at 23k per share.

Japaul Oil and Maritime Services lost 7.69 per cent to close at 24k, while Guinness Nigeria shed 7.28 per cent to close at N28 per share.

However, the total volume of shares traded closed lower as investors bought and sold 152.40 million shares, worth N2.44 billion achieved in 3,519 deals.

This was against a turnover of 276.27 million shares valued at N3.71 billion achieved in 3,690 deals on Tuesday.

Transactions in the shares of Guaranty Trust Bank topped the activity chart with 46.05 million shares valued at N1.34 billion.

Zenith Bank followed with 20.71 million shares worth N414.16 million, while UBA traded 11.85 million shares valued at N92.85 million.

FBN Holdings traded 10.52 million shares worth N62.5 million, while Fidelity Bank transacted 5.77 million shares worth N12.48 million.