NSE market indices appreciate further by 2.18%

Activities on the Nigerian Stock Exchange (NSE) on Thursday for the third consecutive day sustained a positive trend with the market indices appreciating further by 2.18 per cent.

The All-Share Index rose by 616.86 points or 2.18 per cent to close at 28,877.47 compared with 28,260.61 posted on Wednesday due to huge gains by blue chips.

Similarly, the market capitalisation rose by N211 billion to close at N9.917 trillion compared with N9.706 trillion recorded on Wednesday.

An analysis of the price movement chart showed that Nestle for the second-consecutive day topped the gainers’ chart, gaining N37.50 to close at N787.50 per share.

Guinness trailed with a gain of N10.23 to close at N110.08, while Seplat increased by N10 to close at N350 per share.

Nigerian Breweries grew by N6.69 to close at N140.68 and Lafarge Africa appreciated by N2.16 to close at N80.85 per share.

On the other hand, 7up recorded the highest price loss to lead the losers’ table, dropping N2.50 to close at N138.50 per share.

Dangote Cement shed N1.92 to close at N175.08, while Fidson lost 8k to close at N2.12 per share.

AG Leventis decreased by 5k to close at 95k, while Julius Berger also lost 5k to close at N45 per share.

NAN also reports that the volume of shares traded inched by 37.23 per cent with an exchange of 651 million shares valued at N5.02 billion transacted in 5,796 deals.

This was in contrast with a total of 474.40 million shares worth N3.50 billion exchanged in 5,260 deals on Wednesday.

UBA was the most active trading shares, with 101. 94 million shares valued at N537.24 million.

Fidelity Bank sold 75.85 million shares worth N103.36 million and FBN Holdings accounted for 72.68 million shares valued N318.14 million.

GT Bank traded 63.11 million shares worth N1.32 billion, while Access Bank sold 51.53 million shares valued at N307.97 million.