Index at Nigerian Stock Exchange Up 1.04% as DANGCEM, Oando Share Prices Rise

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Equities trading on the Nigerian Stock Exchange reversed a three-day negative trend with a growth of 1.04 percent on Wednesday as the All Share Index (ASI) closed at 35,207.89 points.

The market capitalisation also increased by N125 billion to close at N12.137 trillion, improving the average year-to-date return to 30.7 per cent.

The day’s performance was driven by gains recorded the industrial and oil and gas sectors that appreciated by 2.33 per cent and 1.53 per cent respectively following increases recorded in the share prices of Dangote Cement, Total, Oando and Forte Oil

May & Baker led the 19 stocks on the  day’s gainers table by 4.92 per cent, to close at N2.77 per share. Continental Reinsurance followed with a gain of 4.90 per cent to close at N1.50, while 7up appreciated by 4.87 per cent to close at N90 per share. Linkage Assurance went up by 4.76 per cent to close at 66 kobo, while Oando gained 4.42 per cent to close at N5.90 per share.

On the negative side, NPF Microfinance Bank led 20 losers by 5.17 per cent to close at N1.10. Nascon Allied Industries trailed with a loss of 5 per cent, to close at N12.35, while Neimeth shed 4.69 per cent to close at 61 kobo per share. Union Bank which opened is rights issue offer closed the day on a negative noted with a decline of 4.67 per cent to close at N5.72 while AXA Mansard shed by 4.52 per cent to close at N1.90 per share.

Total volume traded declined by 21 per cent to 137.4 million shares valued at N1.13 billion in 2,977 deals.

Meyer topped the activity chart with 20 million shares valued at N14 million. Access Bank followed with 14.9 million shares worth N144.4 million. Transcorp traded 12.1 million shares valued at N14.2 billion. FCMB traded 11.8 million shares worth N12 million and Fidelity Bank transacted 7.1 million shares valued at N9.4 million.

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