New Telegraph

NSE halts losses, records N3bn gain

Activities at the Nigerian Stock Exchange (NSE) closed positive yesterday, reversing four days negative sentiments following gains recorded mainly from blue chip stocks. The key market performance measures, the NSE All Share Index and market capitalisation, rose by 0.02 per cent to close the trading session positive as market sentiments returned to gaining streaks following gains recorded by Eterna Oil, International Breweries Plc and 16 other firms.

Consequently, the All- Share Index gained 6.55 basis points or 0.02 per cent to close at 28,344.04 as against 28,337 recorded the previous day while the market capitalisation of equities appreciated by N3 billion or 0.02 per cent to close at N14.814 trillion from N14.811 trillion as market sentiment returned on the green zone. Meanwhile, a turnover of 535.83 million shares were exchanged in 4.498 deals was recorded in the day’s trading.

Thebankingsub-sectorwas the most active (measured by turnover volume); with 127.90 million shares exchanged by investors in 834 deal. Volume in the sub-sector was largely driven by activities in shares of GTBank Plc and Sterling Bank Plc.

The premium sub-sector boosted by activities in shares of FBNH Plc and UBA Plc followed with a turnover of 77.55 million shares in 1,740 deals. The number of gainers at the close of trading session was 18 while decliners also closed at 15. Eterna Oil Plc led the gainers’ table by 9.77 per cent to close at N4.38 per share while International Breweries Plc followed with a gain of 9.56 per cent to close at N4.70 per share. Regency Alliance Insurance Plc added 9.09 per cent to close at 24 kobo per share.

On the other hand, Etransact Nigeria Plc led the price losers’ table, dropping 9.79 per cent to close at N2.12 per share. Royal Exchange Plc followed with 7.41 per cent to close at 25 kobo per share while Portland Paints Plc trailed with a loss of 6.98 per cent to close at N2.00 per share.

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