Home Business Stock market index rises above 5% threshold, gains 2074.10 bps

Stock market index rises above 5% threshold, gains 2074.10 bps


By Amaka Ifeakandu

Lagos – Transactions on the floor of Nigerian Stock Exchange remains upbeat following gains recorded by Capitalised companies forcing the index to increase by 2074.10 basis points

The NSE All Share Index yesterday rose beyond the set threshold of five per cent,

The increase in market for the first time records a market-wide circuit breaker since its introduction in 2016.

The NSE All Share Index grew by 6.23 per cent above the NSE five per cent threshold to 35342.46 points from 33268.36 points recorded the the previous day.

Market Capitalisation of listed equities also increased by N1.087 trillion or 6.25 per cent to N18.467 trillion from N17.383 trillion reported the previous day.

The NSE trading result showed that Nestle Nigeria Plc led gainers table, gaining N50.00 to close at N1450.00, Airtel Africa followed with a gain of N41.00 to close at N451.00, Dangote Cement gained N15.00 to close at N200.00, Presco PLC increased by N7.25 kobo to close at N79.75 kobo, Nigerian Breweries up by N5.60 kobo to close at N63.10 kobo.

On the contrary, Eterna Plc topped losers chart, dropping N0.50 kobo to close at N4.57 kobo, GSPEC Plc trailed with a loss of N0.46 kobo to close at N4.19 kobo, May and Baker fell by N0.35 kobo to close at N3.25 kobo, Morrison dipped by N0.05 kobo to close at N0.49 kobo, NEM Insurance dropped by N0.05 kobo to N2.20 kobo.

The result further showed that Zenith Bank was the most active stock during the day, exchanging 161.383 million shares valued at N4.462 billion, FBNHoldings followed with account of 121.494 million shares cost N1.006 billion, Access Bank 100.847 million shares cost N992.773 million, United Bank for Africa sold a total of 80.454 million shares valued at N770.426 million, Fidelity Bank traded 79.500 million shares valued at N239.481 million.

In all Investors traded 1.192 billion shares valued at N17.395 billion in 10704 deals against 858.156 million shares worth N9.062 billion in 2142 deals.

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