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Nigeria Equity Market Opens Week with 0.73% Growth

By Modupe Gbadeyanka

Transactions resumed on Tuesday on the floor of the Nigerian Stock Exchange (NSE) after the Democracy Day holiday declared by the Federal Government on Monday, May 29, 2017.

It was a day earmarked to celebrate the return of power to civilian government by the military in 1999.

At the close of trading activities today, the stock market finished in the green zone by 0.78 percent, with major market indicators pointing northward.

The chief market gauge, which is the All-Share Index (ASI), increased by 212.07 points to close at 29,276.59 points, while the market capitalisation progressed by N73.3 billion to finish at N10.121 trillion.

In addition, the market breadth ended positive today with 29 advancers against 17 decliners, while the year-to-date return finished at 8.95 percent.

The gainers’ chart was led by Presco, which appreciated by N1.99k to settle at N51 per share and was trailed by Flour Mill, which rose by N1.1k to close at N21.24k per share.

Nigerian Breweries added N1 to finish at N146 per share, Lafarge gained 55k to end at N48 per share and GTBank improved by 52k to close at N35.80k per share.

On the flip side, Seplat declined by N19.50k to end at N370.50k per share, 7up depreciated by N5.24k to finish at N99.75k per share and Nigerian Enamelware Plc slumped by N1.46k to close at N27.87k per share.

Furthermore, International Breweries weakened by 91k to wrap the day at N21.5k per share, while Okomu Oil fell by 49k to settle at N52.50k per share.

Business Post correspondent reports that at the close of trading activities on the floor of the NSE on Tuesday, a total of 832.5 million shares were exchanged by investors in 6,259 deals valued at N7.6 billion.

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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