Gains posted by some highly capitalised equities on Wednesday pushed the All-Share Index of the Nigerian Stock Exchange (NSE) above the 30,000 mark since the commencement of the new flexible foreign exchange policy by the Central Bank of Nigeria (CBN).
The index, which opened at 29,422.71 grew by 705.11 points, or 2.40 per cent, closed at 30,127.82 at the end of the day’s transaction, scaling 29,000 mark attained on June 17.
Also, the market capitalisation was above N242 billion, or 2.40 per cent, to close at N10.347 trillion against N10.105 trillion recorded on Tuesday.
Investors staked N7.93 billion on 541.87 million shares achieved in 5,727 deals against 533.32 million shares valued at N6.79 billion, which exchanged hands in 5,736 deals on Tuesday.
A review of the performances of the equities showed that Nestle, for the third consecutive day, led the gainers’ table, growing by N16, to close at N832 per share.
It was followed by Dangote Cement, which gained of N9.25 per share, to close at N194.25, and Guinness, which appreciated by N2.45, to close at N106.45 per share.
7UP Bottling moved up N2 to close at N140, while Glaxosmithkline advanced by N1.68 to close at N18.21 per share.
Conversely, Lafarge Africa topped the losers’ table, shedding N4.39 to close at N73.51 per share, while Seplat Petroleum trailed with a loss of N1.03 to close at N348.97, and Conoil declined by 89k to close at N20.96 per share.
Cement Company of Northern Nigeria dropped 55k to close at N7.45, Mobil Oil lost 50k to close at N169 per share.
Guaranty Trust Bank maintained its leadership position in the banking sector as the most traded equity, accounting for 96.35 million shares worth N2.23 billion, while Access Bank followed with a total of 83.99 million shares valued at N2.23 billion and Zenith Bank exchanged 59.99 million shares worth N1.02 billion.
United Bank for Africa traded 57.85 million shares valued at N290.84 million and Transcorp transacted 39.42 million shares valued at N69.75 million.
Support PREMIUM TIMES' journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
TEXT AD: To advertise here . Call Willie +2347088095401...