NSE Index Extends Positive Streaks, Up 0.02% | Independent Newspapers Limited
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NSE Index Extends Positive Streaks, Up 0.02%

Posted: Sep 22, 2016 at 10:18 am   /   by   /   comments (0)


Bamidele Ogunwusi



Trading activities on the floor of the Nigerian Stock Exchange (NSE) on Wednesday extended gaining streaks as the overall market performance indices firmed up marginally with a gain of 0.02 per cent.

Transactions on the stock market had the previous day returned to the green territory as market recovered from a day of losing streak following appreciable demand by investors.

Consequently, the All-Share Index gained 4.64 basis points or 0.02 per cent to close at 28,214.57 index points as against 28.209.93 recorded the previous day while the market capitalisation of equities appreciated by N1 billion or 0.02 per cent from N9.690 trillion the previous day to N9.691 trillion.

Meanwhile, a turnover of 2,095 billion shares exchanged in 2,815 deals was recorded in the day’s trading.

Insurance sub-sector of the financial services sector was the most active during the day (measured by turnover volume); with 2.889 billion shares exchanged by investors in 97 deals.

Volume in the sub-sector was largely driven by the activities in the shares of GNI Plc and AIICO Insurance Plc.

Banking sub-sector also of the financial services sector, boosted by the activities in the shares of UBA Plc and GTB Plc followed with a turnover of 96.2 million shares in 931 deals.

The number of gainers at the close of trading session was 22 while decliners closed at 13.

Further analysis of the day’s trading showed that Conoil Plc, just as in the previous day topped the gainers’ table with 10.11 percent to close at N42.60 per share while PZ Cussons Plc followed with 4.98 percent to close at N18.97 per share and Oando Plc with a gain of 4.87 per cent to close at N5.60 per share.

On the flipside, Neimeth Healthcare Plc led the losers’ chart with a drop of 9.26 per cent to close at 98 kobo per share.

Guinness Nigeria Plc followed with a loss of 7 per cent to close at N93.00 per share while e-Transact Plc dropped by five per cent to close at N5.70 per share.