Nigeria stock exchange index up 0.22% as AXAMansard, Diamond Bank, Linkage Assurance lead gainers

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Equities Trading activities on the Nigerian Stock Exchange (NSE) rebounded on Thursday as investors embarked on bargain hunting in insurance and consumer goods stocks to lift the the All-Share Index (ASI) by 0.22 percent.

The NSE Insurance Index led the day’s sectoral gainers with an increase of 2.6 percent and the consumer goods index added 0.61 percent, on the other hand, the NSE Banking Index emerged the day’s lone loser with a decline of 0.32 percent.

The ASI thus added 79.42 points to close at 36,732.24 points and the Market Capitalisation added 27.34 billion to close the day at N12.643 trillion.

The price movement chart showed a positive market breadth as 30 gainers were paired against 13 losers.

AXAMansard led the gainer’s chart with an appreciation of 6.49 percent to close at N2.46 per share. Diamond Bank and Linkage Assurance came next with a growth of 5 percent each to close at N1.05 and 84 kobo per share, Livestock Feeds added 4.76 percent to close the day at 88 kobo and Transcorp appreciated 4.32 percent to close at N1.45 per share

On the other hand UPL recorded the day’s highest depreciation of 4.90 percent to close at N2.33 and Fidson Health Care declined 4.57 percent to close at N3.34 per share. Neimeth dropped4.23 percent to close at 68 kobo per share, Union Bank fell 4.17 percent to close at N5.75 per share and Jaiz Bank dropped 1.47 per cent to close at 67 kobo per share

In all, investors in 2,993 deals exchanged a total of 443.7 million shares valued at N3.2 billion as against a total of 336.4 million shares worth N1.834 billion traded in 3,689 deals previously.

Again, Diamond Bank, that emerged the most active stock to boost turnover as it exchanged 308.8 million shares for N304.4 million. UBA was next with the sale of 25.8 million shares valued at N237.1 million and Zenith Bank sold 22.9 million units at N579.3 million.

Transcorp came fourth with 14.1 million units exchanged for N20.4 million while 9.6 million units of Fidelity Bank’s shares were exchanged for N9.6 million.

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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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