New Telegraph

NSE advances with N33bn gain

The bulls yesterday maintained grip on market activities as stocks sustained rally for the fifth trading session following gains recorded from blue chip stocks as investors positioned to leverage undervalued stocks.

 

The key market performance measure, the NSE All Share Index, rose by 0.25 per cent as market sentiments extended gaining streaks following investors’ sustained optimism on undervalued stocks.

 

Consequently, the All-Share Index gained 62.61 basis points or 0.25 per cent to close at 25,291.73 as against 25.229.12 recorded the previous day  while the market capitalisation of equities appreciated by N33 billion to close at N13.194 trillion from N13.161 trillion as market sentiment remained on the green zone.

 

Meanwhile, a turnover of 251.34 million shares exchanged in 3,713 deals was recorded in the day’s trading.

 

The premium sub-sector was the most active (measured by turnover volume); with 57.56 million shares exchanged by investors in 1,000 deals. Volume in the sub-sector was largely driven by activities in the shares of Zenith Bank Plc and UBA Plc.

 

The banking sub-sector boosted by activities in shares of Wema Bank Plc and Sterling Bank Plc followed with  a turnover of 32.58 million shares in 460 deals.

 

The number of gainers at the close of trading session was 15 while decliners closed at 20. Nem Insurance Plc led the gainers’ table by 9.63 per cent to close at N2.05 per share while Wapic Insurance Plc followed with 6.25 per cent to close at 34 kobo per share.

 

Japaul Oil Plc added 4.76 per cent to close at 22 kobo per share. On the other hand, Beta Glass Plc led the price losers’ table, dropping 9.99 per cent to close at N55.40 per share.

 

May and Baker Plc followed with 9.90 per cent to close at N2.73 per share while ARBICO Plc trailed with a loss of 9.52 per cent to close at N1.14 per share.

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