Business

NSE extends gain by N26bn

Nigerian Stock Exchange yesterday sustained its positive outlook as the overall performance measures, NSE ASI and market capitalisation, rose further by 0.20 per cent. Market watchers attributed development to sustained confidence as bargain hunters leverage on under value stocks. Consequently, the All- Share Index rose by 51.02 basis points or 0.20 per cent to close at 25,511.02 index points as against 25,460 recorded the previous day while market capitalisation of equities appreciated by N26 billion or 0.20 per cent to close higher at N13.308 trillion from N13.282 trillion as market sentiment remained on the green territory.

Meanwhile, a turnover of 232.42 million shares in 3,377 deals was recorded in the day’s trading. The premium sub-sector was the most active (measured by turnover volume); with 66.52 million shares exchanged by investors in 1,233 deals.

Volume in the subsector was driven by activities in the shares of Zenith Bank Plc and Access Bank Plc. The insurance subsector boosted by activities in shares of Lasaco Assurance Plc and AIICO Insurance Plc followed with a turnover of 32.77 million shares in 140 deals. The number of gainers at the close of trading session was 19 while decliners closed at 6. Further analysis of the day’s trading showed that UAC-Property Plc led the gainers’ table with 8.33 per cent to close at91 kobo per share while Linkage Assurance Plc followed with 7.69 per cent to close at 42 kobo per share and Royal Exchange Plc with a gain of 6.45 per cent to close at 33 kobo per share.

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