NSE: Trading Remains Upbeat With 0.48% Growth
NSE building

The domestic stock market yesterday increased further by 0.19 per cent, amid sustained investors’ positive sentiment.

The market’s performance was a result of investors’ buy interest in mainly consumer goods and industrial sectors.

The All Share Index (ASI) increased by 78.79 points, representing a growth of 0.19 per cent to close at 41,129.98 from 41,051.19 recorded on Wednesday.

Similarly, the market capitalisation which opened at N21.391 trillion gained N41 billion or 0.19 per cent to close at N21.432 trillion.

The growth was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Seplat Energy, FBN Holdings (FBNH), Stanbic IBTC Holding, Lafarge Africa and Nigerian Breweries.

Analysts at Afrinvest Limited said, “We expect the bullish performance to be sustained in the next trading session, driven by improved investor sentiment in anticipation of third quarter earnings releases.”

Also, market breath closed positive with 21 gainers and 14 losers.

Champion Breweries drove the gainers’ table in percentage terms by 9.71 per cent to close at N3.05 per share.

Africa Prudential followed with 7.81 per cent to close at N6.90, while FBNH appreciated by 7.31 per cent to close at N11.75 per share.


Universal Insurance rose by 4.76 per cent to close at 22k, while Chams appreciated by 4.35 per cent to close at 24k per share.

Conversely, learn Africa led the losers’ chart in percentage terms by 10 per cent to close at N1.26 per share.

Ecobank Transnational Incorporated trailed with 8.16 per cent to close at N6.75, while Wapic Insurance lost six per cent to close at 47k per share.

Linkage Assurance shed five per cent to close at 57k, while NEM Insurance depreciated by 4.46 per cent to close at N1.93 per share.

The total volume traded increased by 103.52 per cent to 908.06 million shares worth N10.97 billion in 5,151 deals.

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This was against 446.17 million shares valued at N4.47 billion exchanged in 4,704 deals on Wednesday.

Transactions in the shares of FBNH topped the activity chart with 602.77 million shares valued at N7.11 billion.

Guaranty Trust Holding Company followed with 63.75 million shares worth N1.81 billion, while Champion Breweries traded 37.68 million shares valued at N114.84 million.

Universal Insurance sold 21.91 million shares worth N4.57 million, while United Bank for Africa transacted 21.17 million shares worth N176.70 million. (NAN)