Modupe Gbadeyanka
By Modupe Gbadeyanka
The Nigerian Stock Exchange (NSE) is continuing to blow hot at the moment as a result of the entry of offshore investors into the market again.
The NSE market indices appreciated on Thursday by 0.40 percent growth on the back bargain hunting by investors.
Mobil Oil Nigeria and Dangote Cement were the major drivers of the gains posted by the nation’s bourse yesterday, erasing the early losses at the close of transactions.
Mobil Oil garnered N4.20k during the trading session to finish N188 per share higher, with Dangote Cement going up by N2 to close at N190 per share.
CCNN appreciated by N1 to end at N23 per share, PZ Cussons grew by 85 kobo to settle at N11.85k per share, while Nigerian Breweries improved by 75 kobo to close at N78.75k per share.
On the flip side, NASCON finished as the worst stock on Thursday after losing 60 kobo of its share value to close at N18 per share.
Stanbic IBTC went down by 50 kobo to finish at N47 per share, while eTranzact fell by 39 kobo to end at N3.56k per share.
Zenith Bank depreciated by 25 kobo to finish at N21.70k per share, while GTBank reduced by 20 kobo to settle at N32.40k per share.
The benchmark index appreciated by 122.53 points to close at 30,583.21 points, while the market capitalisation moved up by N46 billion to settle at N11.405 trillion.
Despite the gains of yesterday, the volume of trades went down by 24.46 percent, but the value rose by 55.12 percent.
A total of 231 million shares worth N3.3 billion were bought by investors on Thursday in contrast to the 305.8 million equities worth N2.1 billion transacted on Wednesday.
Business Post reports that Diamond Bank maintained its position as the most actively traded equity, selling 59.6 million units worth N125.1 million.
GTBank sold 45.6 million equities worth N1.5 billion, while Zenith Bank exchanged 19.8 million shares valued at N427.6 million. Access Bank traded 19.5 million shares worth N112.1 million, while FBN Holdings transacted 10.8 million equities valued at N79.4 million.
