NSE Index Gains 0.31% Friday As NB, Forte Oil Lead Gainers


By Modupe Gbadeyanka

Nigerian equities market finished the week, Friday, September 30, 2016, on a bright note as the Nigerian Stock Exchange (NSE) All-share Index (ASI) increased by 0.31% to close at 28,335.40 points.

This comes after the market bounced back on Thursday, recovering from losses it recorded on Tuesday and Wednesday.

The market capitalisation, at the close of activities on Friday, also recorded a huge increase of N30.2 billion to close at N9.73 trillion.

On Thursday, the market capitalisation gained N3.9 billion to close at N9.703 trillion.

Nigerian Breweries gained N4.57 to close at N150 per share to lead the gainers’ on NSE on Friday and was closely followed by Forte Oil, which appreciated by N3.91 to finish at N165.9 per share, while Total gained N3.9 to close at N295 per share.

Dangote Cement and Guinness Nigeria respectively picked N1 and 99k to close N183 per share and N97.99 per share.

On the other hand, Mobil led the losers after it declined by N3.28 to close at N191.72 per share, while ConOil lost N1.6 to finish at N36.1.

Business Post gathered that at the end of the day’s transactions, investors on the NSE in 2,804 deals exchanged a total of 217.808 million shares valued at N2.385 billion.

Our correspondent gathered that stocks from the financial sector attracted investors’ attention on the NSE of Friday.

This reflected on the number of stocks traded the most today with ETI leading the pack.

ETI traded 50.7 million shares worth N583.7 million, FCMB exchanged 43.3 million shares valued at N46.2 million, Zenith Bank traded 15.7 million shares worth 246.5 million, Stanbic exchanged 13.6 million units valued at N230.4 million, while Transcorp traded 13.3 million worth N13.7 million.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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