NSE indices appreciate by 1.65%

Activities at the Nigerian Stock Exchange (NSE) on Thursday for the fourth consecutive time sustained a positive trend with the market indices appreciating further by 1.65 per cent.

The News Agency of Nigeria (NAN) reports that the market capitalisation rose by N144 billion to close at N8.880 trillion compared with N8.736 trillion recorded on Wednesday.

In the same vein, the All-Share Index which opened at 25,396.83 appreciated by 419.46 points or 1.65 per cent to close at 25,816.29 following gains by major blue chip equities.

Dangote Cement for the third day running topped the gainers’ table, appreciating by N8 to close at N168 per share.

NAN reports that investors have been reacting to N8 dividend proposed by the company for the financial year ended Dec. 31, 2015.

CAP trailed with a gain of N1.78 to close at N37.56, while PZ Industries appreciated by N1.10 to close at N24.10 per share.

Unilever gained 50k to close at N27.50 and Dangote Sugar Refinery also appreciated by 50k to close at N5.99 per share.

On the other hand, 7UP led the losers’ chart, dropping by N8.50 to close at N161.50 per share.

Seplat came second with a loss of N2.78 to close at N349.52, while International Breweries declined by 38k to close at N18.15 per share.

Nigerian Breweries shed 20k to close at N98.20 and Air Service depreciated by 11k to close at N2.18 per share.

Also, the volume of shares traded closed higher as investors staked N2.27 billion on 317.48 million shares transacted in 3,335 deals.

NAN reports that this was against the 275.09 million shares valued at N1.64 billion exchanged in 3,344 deals on Wednesday.

FCMB Group was most active, accounting for 75.62 million shares worth N51.99 million in 265 deals.

Zenith Bank followed with 45.79 million shares valued at N537.66 million achieved in 487 deals, while FBN Holdings traded 44.44 million shares worth N162.29 million achieved in 160 deals.

UBA sold 38.65 million shares valued at N123.27 million in 335 deals and GT Bank accounted for 26.61 million shares worth N425.69 million transacted in 308 deals.