Nigeria Stock Exchange maintains positive trend, records 0.92% appreciation

Traders work at the Nigerian Stock Exchange in Lagos, February 13, 2015. REUTERS/Joe Penney

Activities on the Nigerian Stock Exchange (NSE) ended the week on Friday on a bullish trend with the All-Share Index appreciating by 0.92 per cent.

The News Agency of Nigeria (NAN) reports that the index grew by 235.08 points or 0.92 per cent to close at 25,653.16 compared with 25,418.08 posted on Thursday.

Also, the market capitalisation inched N82 billion or 0.93 per cent to close at N8.878 trillion against N8.796 trillion on Thursday due to price growth of some stocks.

Dangote Cement recorded the highest price growth to lead the gainers’ table with a gain of N6 to close at N166 per share.

It was trailed by Beta Glass which garnered N2 to close at N42.16 and Lafarge Africa rose by N1.50 to close at N36 per share.

Guaranty Trust Bank inched 50k to close at N26. 30 and Dangote Sugar went up by 19k to close at N6.19 per share.

On the other hand, Nigerian Breweries led the losers’ table with a loss of N3.84 to close at N130 per share.

Guinness came second with N3.49 to close at N66.50, while Forte Oil dipped 9k to close at N47.95 per share.

Zenith Bank lost 42k to close at N14.13 and Air Service dropped 12k to close at N3.07 per share.

However, the volume of shares traded closed lower as investors bought and sold 151.38 million shares valued at N1.86 billion exchanged in 2,325 deals.

NAN reports that this was in contrast with a turnover of 380.95 million shares worth N2.35 billion transacted in 2,468 deals on Thursday.

The banking sector remained the most traded with Zenith International Bank emerging the most traded equity, having accounted for 41.43 million shares valued at N601.71 million.

Fidelity Bank came second with 29.90 million shares worth N25.05 million, while Guaranty Trust Bank sold 29.49 million shares valued at N773.69 million.

UBA traded 12.55 million shares worth N99.02 million and FCMB Group recorded a turnover of 7.72 million shares valued at N9.61 million.