Stock market gains N71bn

Trading on the floor of the Nigerian Stock Exchange (NSE) returned on the upbeat after two days of downswing occasioned by profit takings.

The bulls regained their grips on the market activities, as investors take positions on the blue chip companies. The key market performance measures, the NSE All Share Index and market capitalisation, rose by 0.85 per cent, as market sentiments extended gaining streaks following investors’ sustained optimism.

Consequently, the All-Share Index gained 205.57 basis points or 0.85 per cent to close at 24.261 basis points as against 24.056.12 recorded the previous day, while the market capitalisation of equities appreciated by N71 billion or 0.85 per cent to close at N8.344 trillion from N8.273 trillion as market sentiment remained on green zone.

Meanwhile, a turnover of 119.3 million shares worth N959.7 billion in 2,464 deals were recorded in the day’s trading.

Banking services sub-sector of the financial services segment was the most active during the day (measured by turnover volume); with 40.2 million shares worth N160.9 million exchanged by investors in 598 deals.

Volume in the sub-sector was largely driven by activities in the shares of UBA Plc and Access Bank Plc. Premium sub-sector boosted by activities in the shares of Zenith Bank Plc followed with a turnover of 30.8 million shares valued at N292.4 million in 602 deals. The number of gainers at the close of trading session was 16, while decliners closed at 23.

ETI Plc and Seplat Petroleum Plc led the gainers’ table with a gain of five per cent each to close at N15.75 and N288.08 per share respectively while GSK Plc followed with a gain of 4.97 per cent to close at N23.02 kobo per share.

Nacho Plc added 4.86 per cent to close at N3.88 per share. On the other hand, Eterna Oil Plc led the price losers’ table, dropping 8.38 per cent to close at N1.75 per share.

Mobil Oil Plc followed with 6.02 per cent each to close at N150.00 per share, while Dangote Sugar Plc trailed with a loss of 5.64 per cent to close at N5.19 per share.

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