International Breweries Lifts NSE Index by 0.82%

March 23, 2019
International Breweries Lifts NSE Index by 0.82%

By Modupe Gbadeyanka

After recording losses for six consecutive trading sessions, the local stock market closed 0.82 percent higher on Friday buoyed by bargain hunting.

The All-Share Index (ASI), which closed at 30,885.31 points on Thursday, increased by 254.04 points to settle at 31,139.35 points on Thursday.

In the same vein, the market capitalisation gained N94 billion to finish at 11.612 trillion in contrast to N11.518 trillion it closed the previous day.

Business Post reports that the market breadth ended positive on Friday with 22 price gainers against 21 price losers.

International Breweries dominated the gainers’ table yesterday. The stock appreciated by N1.95k to close at N26 per share.

It was followed by Dangote Cement, which gained N1.60k to finish at N189.70k per share, and GTBank, which rose by N1.35k to end at N37.50k per share.

CCNN increased its share value by 90 kobo to close at N20.90k per share, while Stanbic IBTC garnered 50 kobo to finish at N45.50k per share.

On the flip side, it was a bad day for Total Nigeria as the stock went down by N4 to close for the day at N196 per share.

Cadbury Nigeria depreciated by N1.10k to finish at N9.90k per share, while Okomu Oil slipped by N1 to settle at N79 per share.

NASCON depreciated by 90 kobo to close at N20 per share, while PZ Cussons declined by 75 kobo to settle at N10.50k per share.

Though the value of shares transacted on Friday improved by 7.65 percent from N2.4 billion to N2.6 billion, the volume decreased by 7.52 percent to 231.2 million units from 250 million units.

Access Bank dominated the activity chart on Friday with a turnover of 98.9 million units worth N722.2 million.

Zenith Bank exchanged 21.1 million shares valued at N463.3 million, while GTBank traded 15.9 million equities for N589.6 million.

Sterling Bank sold 11.1 million shares for N26.5 million, while WAPIC Insurance exchanged 8.2 million equities worth N3.3 million.

Modupe Gbadeyanka

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.

Leave a Reply

Entries for Tommy Hilfiger Fashion Frontier Challenge Open
Previous Story

Entries for Tommy Hilfiger Fashion Frontier Challenge Open

Could This be New Access Bank Logo After Merger With Diamond Bank?
Next Story

Could This be New Access Bank Logo After Merger With Diamond Bank?

Latest from Economy