NSE market indicators record 0.50% growth

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Lagos -The market indices of the Nigerian Stock Exchange (NSE) on Friday appreciated by 0.50 per cent, reversing the four days downward trend.

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The News Agency of Nigeria (NAN) reports that the market capitalisation rose by N50 billion or 0.50 per cent to close at N10.029 trillion against N9.979 trillion recorded on Thursday.

Similarly, the All-Share Index which opened at 29,030.97 appreciated by 144.38 points or 0.50 per cent to close at 29,175.35 due to price gains by some blue chip equities.

Beta Glass topped the gainers’ chart with a gain of N2.31 to close at N48.51 per share.

UACN garnered N1.32 to close at N27.73, while Nigerian Breweries increased by 96k to close at N36.02 per share.

Cadbury gained 95k to close at N20.10 and Stanbic IBTC rose by 61k to close at N20.87 per share.

Malam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd., attributed the development to low price of equities at the nation’s bourse.

Kurfi said that smart investors were taking the advantage to increase their stake in the market in order to make quick profit.

On the other hand, Lafarge Africa led the laggards’ chart with a loss of N1 to close at N94 per share.

Caverton followed with 14k to close at N2.76, while E-transact also lost 14k to close at N2.70 per share.

Fidson decreased by 12k to close at N2.81, while Eternal Oil dipped 8k to close at N1.61 per share.

NAN also reports that the volume of shares traded closed higher with a total of 997.78 million shares worth N6.12 billion traded in 2,711 deals.
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This was in contrast with 295.23 million shares valued N5.07 billion exchanged in 3,804 deals on Thursday.

Access Bank was the toast of investors’ with a turnover of 770.77 million shares worth N3.45 billion achieved in 187 deals.

Zenith Bank came second with 68.83 million shares valued N1.21 billion traded in 251 deals, while FBN Holdings sold 31.29 million shares worth N159.51 million in 405 deals.

Investors’ staked N107.54 million on 30.14 million shares of UBA exchanged in 181 deals, while Transcorp sold 19.16 million shares valued N36.79 million in 138 deals. (NAN)

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