FCMB, ZenithBank, Sterling emerge most traded as Nigeria Stock Exchange Index adds 1.26%

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The Nigeria’s equities market grew by 1.26 per cent today to record its sixth consecutive gain from Tuesday last week.

Lead market indicators; the NSE All Share Index and the market capitalisation settled at 37,999.56 basis points and N13.097 trillion respectively, improving Year to Date returns to 42 per cent.

FCMB emerged the most traded with a turnover of 20.2 million shares worth N24.3 million, Zenith was next with an exchange of 16.9 million shares valued at N416.5 million and Sterling Bank sold 15.7 million shares worth N15.7 million. Guaranty Trust Bank accounted for 14.3 million shares valued at N571.8 million, while UBA exchanged a total of 14.2 million shares worth N136.0 million.

Market Breadth ended positively with 31 gainers paired against 20 losers. Guinness Nigeria topped the day’s gainers with an increase of 10.25 per cent to close at N79.38 per share. Dangote Flour followed with an appreciation of 10.17 per cent to close at N6.39 per share and Nigerian Aviation Handling Company ended the day with a growth of 10 per cent to close at N3.41 per share.

CI Leasing improved by 9.09 percent to close at N1.20 while Nestle emerged the top fifth gainer with a growth of 8.96 per cent to close at N1,154.93 per share.

On the other hand, Morison led the day’s 27 losers as it declined 8.85 percent to close at N1.03 per share, Caverton dropped 8.73 percent to close at N1.15 and Conoil closed 5 per cent lower at N34.58 per share.

Presco also recorded a decline of 4.99 per cent to close at N70.78 per share while Oando emerged the day’s top fifth loser with a decline of 3.85 per cent to close at N7.50 per share.

Volume of shares traded in 5,336 deals by investors, dropped to 218.2mn units of shares from 254.5mn units traded on Monday, while value traded fell slightly to N5.1bn from N5.8bn worth of shares transacted in 4,600 deals previous session.

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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