Business

Bullish trend persists as NSE index rises by 3.60%

The Nigerian bourse maintained the positive performance since the start of the year as the All Share Index and market capitalisation rose by 3.60 per cent each.

All Share Index went up by 1,453.14 basis points or 3.60 per cent to close at 41,816.11 points from 40,362.97 points it closed on Tuesday while market capitalisation closed at N14.880 trillion after it gained N517.123 billion from N14.363trillion recorded in the previous trading day.

Transnational Corporation emerged the most traded equity yesterday with an exchange of 184.726 million shares worth 365.270 million.  It was trailed by Diamond Bank having accounted for 136.614 million shares valued at N314.521 million, while Access Bank recorded 121.955 million shares worth N1.441 billion; Fidelity Bank exchanged 86.026 million shares valued at N259.949 million while FBN Holdings traded 72.472 million shares worth N770.415 million.

Sector performance was positive as all indices closed in the green. The oil & gas index led the gainers chart, up 5.3 per cent following sustained buying interest in Guaranty Trust Bank  (+5.1%) and Zenith Bank (+6.7%). The industrial goods index trailed, closing the day 3.9 per cent higher, largely on account of price appreciation in Dangote Cement (+4.0%).

In the same vein, the consumer goods and insurance indices climbed 2.4 per cent  and 2.0 per cent  respectively due to gains in Nigerian Breweries (+4.3%), International Breweries (+5.3%), Continental Insurance (+4.8%) and NEM Insurance (+4.6%) . The oil & gas index also closed northwards, adding 0.9 per cent on the back of uptick in Conoil (+10.2%).

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