Equities maintain price rally on NSE, Index hits 43,041.54

Nigerian Stock Exchange Trading floor [Photo: blogs.cfr.org]
Nigerian Stock Exchange Trading floor [Photo: blogs.cfr.org]

Trading on the Nigerian Stock Exchange (NSE) on Thursday maintained a bullish run with the All-Share Index hitting all-time high of 43,041.54, while market capitalisation crossed over to N15.317 trillion.

The News Agency of Nigeria (NAN) reports that the index rose by 1,225.43 points or 2.93 per cent to close higher at 43,041.54 against 41,816.11 recorded on Wednesday.

Similarly, the market capitalisation which opened at N14.880 trillion inched N437 billion or 2.94 per cent to close at N15.317 trillion following price growth in anticipation of 2017 audited results.

Ambrose Omordion, the Chief Operating Officer, InvestData Ltd., attributed the market rally to investors’ anticipation of improved 2017 audited results that would start hitting the market very soon.

Mr. Omordion said that investors were positioning in stocks with good fundamentals ahead of earnings release.

Seplat led the gainers’ table with a gain of N15.01 to close at N675.01 per share.

Nigerian Breweries came second with N6.68 to close at N152.68, while Guinness appreciated by N5.01 to close at N105.21 per share.

Dangote Cement also gained N5 to close at N252, while Okomu Oil Palm added N4.46 to close at N72.15 per share.

Conversely, Flour Mills recorded the highest price loss, declining by 40k to close at N33 per share.

Dangote Sugar Refinery trailed with a loss of 30k to close at N21.50, while Berger Paint dipped 25k to close at N9.10 per share.

Cadbury lost 20k to close at N16.80, while UPl declined by 13k to close at N2.63 per share.

Also, the volume of shares traded appreciated by 43.63 per cent with an exchange of 1.62 billion shares worth N17.38 billion transacted in 8,968 deals.

NAN reports that this was in contrast with 1.09 billion shares valued at N13.29 billion traded in 8,025 deals on Wednesday.

Transcorp was investors delight, accounting for 208.78 million shares worth N439.19 million.

Diamond Bank trailed an account of 149.70 million shares valued at N368. 33 million, while Zenith International Bank traded 129.43 million shares worth N4.40 billion.

FBN Holding traded 93.16 million shares valued at N1.06 billion, while Access Bank sold 89.46 million shares worth N1.08 billion.


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