NSE: Market Closes 2016 Strong as Investors Net N32b

By Modupe Gbadeyanka

Trading on the Nigerian Stock Exchange (NSE) closed for the year on Friday, December 30, 2016, on a positive note.

During activities on the floor of the stock market, investors gained N31.5 billion, boosting their confidence that when the market resumes next year, it would continue this upward movement.

The market capitalization went up by N32 billion at the end of transactions today to close at N9.2 trillion, while the all-share index ended at 26,874.62 points after advancing by 91.69 points or 0.34 percent.

A total of 157 million shares were transacted on Friday in 1,714 deals valued at N1.6 billion compared with the 117.4 million shares traded at N878 million in 2,392 deals the previous day at the equities market.

Nigerian Breweries led the gainers’ chart today after growing by N5.99k to close at N147.99k per share, while Guinness gained N3.5k to finish at N83.5k per share.

Similarly, UACN rose by 40k to close at N16.81k per share, UPL improved by 18k to end at N4.24k per share and Oando appreciated by 15k to finish at N4.70k per share.

However, Mobil led the losers’ table after crashing by N11 to end at N279 per share, while Forte Oil slumped by N9.11k to finish at N84.43k per share.

Also, Beta Glass depreciated by N1.51k to close at N30.32k per share, Cadbury fell by 54k to finish at N10.29k per share and Portland Paints dipped by 18k to end at N1.80k per share.

The Nigerian equity market is expected to resume next year on Tuesday, January 3, 2017.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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