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NSE’s index crosses 38,000 mark as NB leads gainers


Nigeria Stock Exchange, Lagos

For the first time in several months, the All-Share index of the Nigerian Stock Exchange (NSE) yesterday crossed 38,000 mark, following price gains recorded by major highly capitalised stocks.

Yesterday, the index inched 519.84 points or 1.37 per cent to close at 38,494.42 compared with 37,974.58 posted on Monday. Similarly, market capitalisation of the exchange, which opened at N13.225trillion, rose by N181billion or 1.37 per cent to close at N13.406trillion.

On the price movement chart, Nigerian Breweries (NB) emerged the day’s highest price gainer, adding 4.50 kobo to close at N138.00 per share.

Dangote Cement followed with a gain of 4.20 kobo to close at N250.00 per share. Unilever rose by 1.30 kobo to close at N42.95 per share.

PZ added 1.07 kobo to close at N22.90.00. Cadbury gained 1.05 kobo to close at N15.30 per share.

However, Forte Oil topped the losers’ chart, shedding 1.76 kobo to close at N43.23 per share.

Stanbic IBTC trailed with a loss of 55 kobo to close at N42.00 per share. Flour Mills dipped by 40 kobo to close at N33.10 per share. International Breweries lost 24.00 kobo to close at N59.76.

National Salt dropped 16 kobo to close at N15.74 per share. Custodian and Allied insurance was the toast of investors, accounting for 90.14 million shares worth N338.04million.

Guaranty Trust Bank followed with 57.05 million shares valued at N2.45billion. Fidelity Bank traded 53 million shares worth N114.09million.

Diamond Bank sold 46.93 million shares valued at N65.46million. Zenith Bank exchanges 42.82 million shares worth N1.08billion.

The volume of shares traded increased marginally by 4.43 per cent as investors staked N7.52billion on 522.35 million shares transacted in 5,150 deals. This was in contrast with 500.19 million shares valued at N6.36billion exchanged in 4,966 deals on Monday.

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