New Telegraph

NSE gains N23bn on blue chip firms

The Nigerian equities market yesterday halted the previous trading session loss, following bargain hunting activities on blue chip stocks. However, the market breadth closed positive, recording 18 gainers against 14 losers as both market performance indices grew by 0.18 per cent. Consequently, the All- Share Index appreciated by basis points or 43.57 per cent to close at 24,693.73 index points as against 24.650.16 recorded the previous trading session while market capitalisation of equities grew by N23 billion from N12.858 trillion the previous day to N12.881 trillion as market sentiment returned to the positive territory.

Meanwhile, a turnover of 101.58 million shares exchanged in 3,685 deals was recorded in the day’s trading. The premium sub-sector was the most active (measured by turnover volume); with 31.37 million shares exchanged by investors in 1,224 deals. Volume in the sub-sector was largely driven by activities in shares of UBA Plc and FBNH Plc. Also, the banking subsector boosted by activities in shares of GTBank Plc and Ecobank Plc followed with a turnover of 28.22 million shares in 775 deals.

Further analysis of the day’s trading showed that in percentage terms Cornerstone Insurance Plc and Seplat Petroleum Development Company Plc topped the day’s gainers’ table with 10 per cent each to close at 55 kobo and N310.20 per share respectively while Prestige Assurance Plc followed with 8.70 per cent to close at 50 kobo per share. PZ Cussons Plc added 5.13 per cent to close at N4.10 per share. On the flip side, NPF MFB Plc led the losers with a drop of 9.92 per cent to close at N1.18 per share while ARBICO Nigeria Plc shed 9.74 per cent to close at N1.39 per share. Studio Press Plc trailed with 9.55 per cent to close at N1.80 per share.

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