NSE: Banking Stocks Buoy Market Performance by 0.22%

By Modupe Gbadeyanka

Activities on the trading floor of the Nigerian Stock Exchange (NSE) further closed on Thursday on a positive note with the market closing 0.22 percent higher. This pushed the year-to-date return higher by 36.52 percent at the close of business today.

The All-Share Index (ASI) increased by 79.99 points to close at 36,688.75 points, while the market capitalisation appreciated by N23 billion to settle at N12.77 trillion.

Unlike yesterday, the market breadth ended positive today with 29 price gainers recorded at the close of trading against 11 price losers.

It was a good day for Seplat at the stock market today, adding N5 to its share value to settle at N495 per share.

It was trailed by 7up, which gained N2.50k to close at N92.50k per share, and International Breweries, which appreciated by N2.14k to end at N53.94k per share.

Nestle rose by N1.90k to finish at N1301.90k per share, while Flour Mills of Nigeria grew by 60k to wrap the day at N32.10k per share.

However, Stanbic IBTC closed today as the biggest price loser, shedding N1.50k to settle at N40.50k per share.

PZ Cussons went down by N1.23k to close at N23.42k per share, while CCNN depreciated by 30k to finish at N8.97k per share.

Okomu Oil fell by 20k to end at N68 per share, and Champion Breweries lost 10k to finish at N2.5k per share.

Business Post reports that the volume and value of equities traded on the floor of the NSE today by investors broadly rose buoyed by huge interest in financial stocks, especially UBA, Access Bank and Zenith Bank shares.

A total of 513.8 million shares worth N6.5 billion were transacted in 4,243 deals on Thursday compared with 331.3 million units worth N5.6 billion exchanged on Wednesday in 3,231 deals.

Investors were attracted to UBA, which sold a total of 116.6 million shares worth N1.1 billion, while Access Bank traded 98.3 million units at N987.6 million.

Zenith Bank transacted 90.3 million shares worth N2.3 billion, Tantalizers sold 44 million units valued at N22 million, and Fidelity Bank exchanged 37 million shares worth N59.2 million.