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NSE: Guinness Sustains Stock Market Bullish Run

By Modupe Gbadeyanka

Activities on the Nigerian Stock Exchange (NSE) finished on Wednesday in the green zone for the second straight day, further boosting confidence of investors.

The upward movement, Business Post correspondent reports, was inspired by Guinness, which led the gainers’ chart at the market today.

At the close of trading, the equity market recorded a rise of 0.07 percent, with the market breadth also strong.

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A total of 19 stocks appreciated as against the 17 stocks that depreciated at the market and five stocks that remained flat.

Guinness recorded a gain of N2 to close at N70 per share, while Unilever rose by N1.60k to finish at N33.90k per share.

Stanbic IBTC advanced by 50k to end at N18.50k per share, Zenith Bank progressed by 39k to close at N14.15k per share and CCNN increased by 20k to finish at N4.50k per share.

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On the flip side, Nestle crashed by N4.99k to end at N730 per share, while Forte Oil went down by N2.19k to finish at N47.81k per share.

Seplat fell by N1 to close at N398 per share, Ashaka Cement depreciated by 36k to finish at N10 per share and Nigerian Breweries dropped 30k to end at N130.70k per share.

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Our correspondent further reports that investors traded a total of 233.8 million shares today in 3,196 deals valued at N2.2 billion.

But at the close of activities on the floor of the NSE on Wednesday, the All-Share Index rose by 16.67 points to close at 25,301.23 points, while the market capitalisation improved by N5.8 billion to finish at N8.76 trillion.

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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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