Equity trading at Nigerian bourse rise 0.44% as Champion Breweries, Neimeth, Linkage Assurance top gainers


Trading activities on the Nigerian Stock Exchange rebounded on Wednesday as the All Share Index gained 152.13 points or 0.44 percent to reclaim the 35,000 benchmark and close at 35,103.40 points.

The aggregate value of all quoted companies measured by the market capitalisation likewise appreciated by N52.4 billion to close at N12.101 trillion.

The industrial and insurance indicators contributed significantly to the day’s overall growth as both indices improved by 0.79 and 0.69 per cent respectively owing to gains recorded in Dangote Cement that gained N4 while Neimeth, Linkage Assurance, NEM Insurance, Wapic and AIICO gained 4.62 percent, 4.55 percent, 4.31 percent and 2 percent respectively, while indices such as the NSE Oil and Gas, the Consumer goods and Banking fell 0.33 percent, 0.21 percent and 0.19 percent respectively.

The day, however, ended with 24 gainers led by were Champion Breweries, Neimeth and Linkage Assurance that added 8.14 per cent, 4.62 per cent and 4.55 percent to close at N2.39, 68 kobo and 69 kobo respectively

Conversely, Morison Industries led the day’s 22 losers with a depreciation of 8.33 percent and closed at 66 kobo per share, UAC-Prop was next with a decline of 5 percent to close at N2.85 per share and UPL declined 4.81 per cent to close at N2.57 per share.

The volume of shares exchanged in 2,860 deals on Wednesday reduced by 73 percent to 136.4 million units compared to 500.3 million units exchanged in 3,120 deals by investors on Tuesday.

The total value of shares sold also decreased 64 percent to N1.3 billion as against N3.6 billion worth of equities transacted previous session.WorldStage newsonline

Jaiz Bank was the most active, exchanging 35.9 million shares valued at N26.1 million.

Meyer followed with the sale of 20.0 million shares worth N14.0 million, while FBN Holdings traded 6.7 million shares valued at N36.7 million.

Diamond Bank sold 5.4 million shares worth N6.0 million and Access traded 4.9 million shares valued at N46.2 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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