NSE trading remains upbeat, index increases further by 0.25%

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Activities on the Nigerian Stock Exchange (NSE) on Wednesday sustained positive growth with the All-Share Index improved further by 0.25 per cent.

The News Agency of Nigeria (NAN) reports that the index rose by 91.23 points or 0.25 per cent to close at 36,622.85 compared with 36,531.62 achieved on Tuesday.

In the same vein, the market capitalisation which opened at N12.574 trillion inched N101 billion to close at N12.675 trillion, amid gains by some highly capitalised equities.

An analysis of the price movement chart indicated that Seplat Petroleum Development Plc led the gainers table, gaining N10 to close at N490 per share.

Glaxosmithkline came second with a gain of N1.20 to close at N25. 20 and NASCON appreciated by 89k to close at N15.22 per share.

UACN added 87k to close at N18.38, while Dangote Flour Mills advanced by 36k to close at N7.50 per share.

Conversely, Forte Oil recorded the highest loss, leading the losers’ table with a loss of N2.23 to close at N42.42 per share.

Mobil Oil trailed with a loss of N1.85 to close at N156 and International Breweries shed N1.72 to close at N54.50 per share.

Cutix was down by 22k to close at N2.13, while UPL dropped by 11k to close at N2.11 per share.

NAN reports that the volume of shares traded was upbeat as investors bought and sold a total of 332.99 million shares valued at N4.66 billion exchanged in 3,577 deals.

This was in contrast with a turnover of 199.86 million shares worth N1.81 billion traded in 3,657 deals on Tuesday.

The United Bank for Africa emerged the most traded with an exchange of 85.18 million shares worth N795.02 million.

Zenith International Bank came second with 43.46 million shares valued at N1.14 billion and Access Bank traded 41.13 million shares worth N407.92 million.

Fidelity Bank sold 21.64 million worth N34.68 million, while Guaranty Trust Bank traded 19.07 million shares valued at N800.57 million. (NAN)

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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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