Business

NSE halts downturn, gains N18bn

Activities at the equities market closed positive, yesterday, halting a twoday downturn following gains recorded by some blue chip stocks. The key market performance measures, the NSE All Share Index and market capitalisation, rose by 0.08 per cent as market sentiments returned to gaining streaks following investors’ sustained optimism on undervalued stocks. Consequently, the All- Share Index gained 34.32 basis points or 0.08 per cent to close at38,636.15 as against 38,601.83 recorded the previous day while the market capitalisation of equities appreciated by N18 billion or 0.08 per cent to close at 20.220 trillion from N20.202 trillion as market sentiment returned on the green zone. Meanwhile, a turnover of 278.04 million shares exchanged in 3,989 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); with 75.76 million shares exchanged by investors in 1,151 deals. Volume in the subsector was largely driven by activities in shares of FBNH 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 41.45 million shares in 693 deals. The number of gainers at the close of trading session was 14 while decliners closed at 22. Guinness Nigeria Plc led the gainers’ table by 9.96 per cent to close at N26.50 per share, while Meyer Paints Plc followed with 8.16 per cent to close at 53 kobo per share. Wema Bank Plc added 5.26 per cent to close at 60 kobo per share. On the other hand, NNFM Plc led the price losers’ table, dropping 10 per cent to close at N5.40 per share. Fidson Healthcare Plc followed with 9.89 per cent to close at N4.28 per share while Cutix Plc trailed with a loss of 9.78 per cent to close at N2.03 per share.

 

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