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Stock market increases further by 0.04%

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NSE maintain bearish trend despite listing of Ellah Lakes additional shares

Investors’ buying interests in stocks of Nestle and First Bank of Nigeria Holdings (FBNH) sustained the positive posts at the Nigerian Exchange Ltd. on Friday.

Similarly, the market gained N11 billion or 0.04 per cent, making the market capitalisation to close at N26.797 trillion from N26.786 trillion recorded on Thursday.

Also, the All-Share Index (ASI) rose by 20.28 points or 0.04 per cent to 49,683.15 from 49,661.87 it was at the previous trading.

Consequently, the Year-to-Date (YTD) return rose to 16.31 per cent.

Transaction activities ended with 17 gainers and 11 losers.

Japaul Gold and Ventures led the gainers with 9.68 per cent to close at 34k per share.

Mutual Benefits Assurance followed with an appreciation of 7.14 per cent to close at 30k per share.

FCMB Group rose by 5.96 per cent to close at N3.20, while Unity Bank gained five per cent to close at 2k per share.

Academy Press gained by 4.39 per cent to close at N2.14 per share.

Conversely, Ellah Lakes led the losers’ chart with a depreciation of 10 per cent to close at N3.60 per share.

Vitafoam Nigeria followed by dropping 9.78 per cent to close at N20.30 per share and NPF Microfinance Bank lost 9.09 per cent to close at N1.50 per share.

Chams declined by 7.41 per cent to close at 25k, while Union Bank of Nigeria shed 6.67 per cent to close at N5.60 per share.

Analysis of today’s market activities showed trade turnover settled higher compared to the previous session, with the value of transactions up by 67.93 per cent.

A total of 193.51 million shares valued at N4.64 billion were exchanged in 3,307 deals compared to 226.47 million shares valued at N2.76 billion exchanged in 3,515 deals.

Jaiz Bank recorded the highest volume of 45.9 million shares traded shares valued at N39.05 million.

It was followed by FBN Holdings which sold 24.9 million shares worth N270.98 million, while Access Holdings transacted 18.9 million shares valued N154.95 million.

Also, NEM Insurance Company traded 11.1 million share units valued at N51.45 million, while Guaranty Trust Holding Company (GTCO) transacted 9.34 million shares worth 186.9 million.

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Olawunmi Ashafa

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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