Business

NSE halts 4-day losses, gains N37bn

Activities on the Nigerian Stock Exchange (NSE) closed positive yesterday, reversing prior four days negative sentiments following gains recorded by blue chip stocks. The key market performance measures, the NSE All Share Index and market capitalisation, rose by 0.29 per cent to close the trading session positive as market sentiments returned to gaining streaks following gains recorded by Red Star Express, Wapic and 15 other firms.

Consequently, the All- Share Index gained 71 .43 basis points or 0.29 per cent to close at 24,097.48 as against 24,026.05 recorded the previous day while the market capitalisation of equities appreciated by N37 billion or 0.29 per cent to close at N12.570 trillion from N12.533 trillion as market sentiment returned on the green zone. Meanwhile, a turnover of 155.53 million shares exchanged in 4,060 deals was recorded in the day’s trading. The premium sub-sector was the most active (measured by turnover volume); with 51.78 million shares exchanged by investors in 1,406 deals.

Volume in the sub-sector was largely driven by activities in the shares of MTNN Plc and Access Bank Plc. The banking sub-sector boosted by activities in shares of GTBank Plc and Fidelity Bank Plc followed with a turnover of 31.46 million shares in 661 deals. However, market breadth closed negative as the number of gainers at the close of trading session was 17 while decliners also closed at 18. Red Star Express Plc led the gainers’ table by 9.76 per cent to close at N3.26 per share while Wapic Insurance Plc followed by 6.06 per cent to close at 35 kobo per share.

C and I Leasing Plc added 5.26 per cent to close at N4.00 per share. On the other hand, Okomu Oil Plc led the price losers’ table, dropping 9.95 per cent to close at N69.70 per share. Unilever Nigeria Plc and MRS Plc followed with 9.78 per cent each to close at N12.45 per share apiece awhile AXA-Mansard Insurance Plc trailed with a loss of 9.66 per cent to close at N1.59 per share.

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