The Sun News

NSE sustains bullish streak

…As market cap hits N15.32trn

Stories by Chinwendu Obienyi

Trading on the floor of the Nigerian Stock Exchange (NSE), yesterday sustained its bullish run as blue chip stocks joined the league of gainers, causing market capitalization to soar significantly by N15.32 trillion from N14.88 trillion.

Specifically, the All Share index rose by 1,225.43 points from 41,816.11 recorded on Wednesday to 43,041.54 points.

Market breadth remained positive as 56 stocks advanced, while 10 others declined at the close of trading.

Honeywell Flour topped the gainers’ chart with 9.97 per cent to close at N3.20 per share. CCNN followed with 9.96 per cent to close at N12.03, Champion gained 9.92 per cent to close at N2.77, Nigerian Micro Finance Bank added 9.66 per cent to close at N1.59 while Fidelity Bank appreciated by 9.59 per cent to close at N3.20 per share.

UPL, however, depreciated by 4.71 per cent to close at N2.63 per share. MEYER was next with a decline of 4.48 per cent to close at 0.64 kobo, LEARNAFRICA fell by 4.04 per cent to close at 0.95 kobo while NEM Insurance and BERGER depreciated by 3.13 and 2.67 per cent to close at N1.55 and N9.10 per share respectively.

Further analysis of yesterday’s transactions showed that Transcorp was top on the most actively traded stocks, selling over 208.78 million shares worth N439.19 million. Diamond Bank traded 149.70 million shares valued at N368.33 million while Zenith Bank sold 129.43 million shares worth N4.40 billion.

Overall, investors’ appetite for stocks increased as the volume of shares traded stood at 1.16 billion shares worth N17.38 billion in 8,968 deals, compared with 1 billion shares valued at N13 billion that changed hands in 8,088 deals on Wednesday.

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