Equities market gains 0.07% over price appreciation in Dangote, Cement, MTN Nigeria, Others

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The Nigerian Stock Exchange (NSE) remained upbeat on Thursday with the market indices improving marginally by 0.07 per cent.

Specifically, the index rose by 14.90 basis points or 0.07 per cent to close at 22,554.84 basis points against 22,534.94 basis points recorded on Wednesday.

Also, the market capitalisation, which opened at N11.746 trillion, appreciated by N8 billion or 0.07 per cent to close at N11.754 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Nestle, MTN Nigeria, Dangote Cement, Nigerian Breweries and Conoil.

Nestle dominated the gainers’ chart in percentage terms, improving by 10 per cent, to close at N913.20 per share.

Nigerian Breweries came second with 9.89 per cent to close at N29.45, while Conoil appreciated by 9.69 per cent to close at N15.85 per share.

Cornerstone Insurance rose by 9.26 per cent to close at 59k per share.

Champion Breweries and Neimeth International gained 9.09 per cent each, to close at 96k and 60k per share, respectively.

Conversely, Access Bank and Sterling Bank led the losers’ chart in percentage terms, dropping by 10 per cent each, to close at N6.30 and N1.35 per share, respectively.

Nigerian Aviation Handling Company followed with a decline of 9.79 per cent to close at N2.12 per share.

Zenith Bank shed 9.75 per cent to close at N14.35, while John Holt depreciated by 8.93 per cent to close at 51k per share.

An analysis of the activity chart indicates that Zenith Bank topped the activity chart with 84.56 million shares valued at N1.25 billion.

FBN Holdings followed with 65.67 million shares worth N307.85 million, while Ekocorp traded 58 million shares valued at N348 million.

United Bank for Africa sold 29.17 million shares worth N176.14 million, while Guaranty Trust Bank transacted 26.28 million shares worth N542.71 million.

In all, the volume of shares traded increased by 16.13 per cent, as investors bought and sold 379.11 million shares valued at N4.33 billion transacted in 5,985 deals.

This was in contrast with a total of 326.44 million shares worth N3.34 billion achieved in 5,166 deals on Wednesday.