Business

NSE extends gains by N390bn

The Nigerian Stock Exchange yesterday further recorded a huge gain to sustain positive outlook as the overall performance measures, NSE ASI and market capitalisation, rose further by 2.10 per cent each. Market watchers attributed the development to renewed confidence as bargain hunters leverage undervalued stocks.

Consequently, the All- Share Index rose by 746.47 basis points or 2.10 per cent to close at 36.239. 62 index points as against 35.493.15 recorded the previous day while market capitalisation of equities appreciated bN390 billion or 2.10 per cent to close higher at N18.940 trillion from N18.550 trillion as market sentiment remained on the green territory.

Meanwhile, a turnover of 343.64 million shares in 3,896 deals was recorded in the day’s trading. The premium sub-sector was the most active (measured by turnover volume); with 167.92 million shares exchanged by investors in 1,414 deals. Volume in the sub-sector was driven by activities in shares of FBNH Plc and UBA Plc. The banking sub-sector boosted by activities in shares of Fidelity Bank Plc and GTBank Plc folowed with a turnover of 36.68 million shares in 632 deals.

The number of gainers at the close of trading session was 30 while decliners closed at 17. Further analysis of the day’s trading showed that Airtel Africa Plc topped the gainers’ table by 10 per cent to close at N774.40 per share while ARDOVA Plc followed with 9.96 per cent to close at N13.25 per share and FTN Cocoa Plc by 9.62 per cent to close at 57 kobo per share. On the flip side, Omatek Plc and Wapic Insurance Plc led the losers’ chart by 9.09 per cent each to close at 20 kobo and 40 kobo per share respectively.

 

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