Nigeria Stock Exchange index up 0.47%, as 7UP, Neimeth, CAP add weight


The bullish trend in the Nigerian Stock Exchange persisted Wednesday as the All Share Index advanced by 0.47per cent to 32,981.63 points.

The day’s positive performance was the fifth consecutive trading session thatequities trading ended in green with investors accumulating N234.1 billion from stocks trading.

Month-to-Date losses have consequently moderated to 0.4 per cent while the Year-to-Date return improved to 22.62 per cent.

With the gains recorded on Wednesday, aggregate market value of all quoted equities at the NSE- The Market Capitalization rose from its opening value of N11.314 trillion to close at N11.367 trillion, representing a gain of N53 billion.

All sectoral indices also closed in the green, with the Banking Index, posting the largest gain of 1.34 per cent.

Market breadth was positive with 29 gainers and 15 losers, while Total volume traded increased by 24 percent to 270.9 million shares valued at N2.77 billion and exchanged in 3,940 deals.

7UP recorded the highest gain of 8.82 per cent to close at N89.23, Neimeth trailed with a gain of 7.14 percent to close at 75kobo. CAP and Linkage Assurance added 5 percent each and closed at N35.70 and 63 kobo per share each while ETI increased 4.96 percent to close at N13.76.

On the other hand, UPL recorded the highest loss of 9.60 percent to close at N2.92. Champion Breweries followed with a drop of 7.55 per cent to close at N2.57. UCAP lost 7.29 per cent to close at N3.05 per share, Conoil declined by 5 per cent to close at N31.55 while CAP Hotel depreciated 4.89 per cent to close at N3.31.

UBA was the most active stock with 48.3million shares valued at N434.3 million. Access Bank followed with 34.5 million shares worth N339.5 million while FBNHoldings came in third place with 31.9 million shares at 197.5 million. UCAP exchanged 30.4 million shares at N91.9 million while Zenith Bank traded 26.4 million shares worth N581.7 million.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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