Nigeria Stock Market Records Feat, Index Crosses 44,000 Mark

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The Nigerian Stock Exchange (NSE) recorded a feat on Tuesday, with the All-Share Index crossing over 44,000 mark for the first time.

The News Agency of Nigeria (NAN) reports that the index rose to 44,054.72 from 43,119.00 achieved on Monday, representing an increase of 935.72 points or 2.17 per cent.

Similarly, the market capitalisation increased by N335 billion or 2.17 per cent to close at N15.782 trillion against N15.447 trillion posted on Monday.

Mobil led the gainers’ table for the day, growing by N9. 50 to close N199.50 per share.

Guinness came second with a gain of N5.01 to close at N114, while Dangote Cement recorded a gain of N5 to close at N260 per share.

Julius Berger increased by N2.75 to close at N30.97, while Zenith International Bank appreciated by N1.51 to close at N35.57 per share.

On the other hand, Nestle recorded the highest price loss to lead the losers’ chart, dropping by N10 to close at N1,480 per share.

Lafarge Africa trailed with a loss of N1.82 to close At N52.24, while PZ shed 67k to close at N23.32 per share.

UACN was down by 50k to close at N18.00, while CAP declined by 49k to close at N37.01 per share.

However, the volume of shares traded closed lower with a turnover of 635.40 million shares valued at N7.64 billion in 7,331 deals.

This was against the turnover 730.62 million shares worth N6.30 billion transacted in 7,964 deals on Monday.

Access Bank was most active stock during the day, exchanging 158.55 million shares worth N1.89 billion.

Transcorp followed with an account of 89.74 million shares valued at N207.60 million, while FBN Holdings traded 67.63 million shares worth N868.02 million.

United Bank for Africa sold 45.46 million shares valued at N565.41 million, while Fidelity Bank exchanged 36.07 million shares worth N129.24 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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