NSE market indicators record 0.12% growth

The market indices of the Nigerian Stock Exchange (NSE) opened for the week on Monday with a marginal growth of 0.12 per cent.

The News Agency of Nigeria (NAN) reports that the trading remained cautious in spite of the drop in inflation rate for the fifth straight month as June figure eased at 16.1 per cent against 16.25 per cent in May.

The market capitalisation grew by N14 billion or 0.12 per cent to close at N11.477 trillion compared with N11.463 trillion achieved on Friday.

In the same vein, the All-Share Index which opened at 33,261.66 rose by 39.77 points or 0.12 per cent to close at 33,301.43.

An analysis of the price movement table showed that 7UP recorded the highest price gain to lead the gainers’ table for the day, gaining N5.72 to close at N94.95 per share.

It was trailed by Forte Oil with N4.33 to close at N60.50 and Unilever appreciated by N3.38 to close at N36.38 per share.

Nigerian Breweries gained N3.36 to close at N157.38, while Flour Mills added N1.25 to close at N26.25 per share.

Conversely, International Breweries topped the losers’ chart, dropping by N1.46 to close at N30 per share.

PZ followed with a loss of 85k to close at N20.65 and Oando was down by 75k to close at N6.83 per share.

NASCON shed 47k to close at N9.03 , while Dangote Sugar declined by 34k to close at N8.66 per share.

Similarly, the volume of shares traded closed higher as investors bought and sold 322.81 million shares valued at N2.73 billion exchanged in 3,830 deals.

NAN reports that this was in contrast with a turnover of 311.61 million shares worth N3.27 billion transacted in 3,113 deals on Friday.

Niger Insurance recorded the highest volume of shares, trading 150.05 million shares worth N75.03 million.

FBN Holdings came second with a total of 35.97 million shares valued at N213.76 million, while FCMB Group exchanged 14.85 million shares worth N17.95 million.

United Bank for Africa sold 14.18 million shares valued at N125.23 million and Flour Mills traded 12.26 million shares worth N320.38 million.