NSE: Investors Gain N88b as Value of Traded Stocks up by 184%

By Modupe Gbadeyanka

The value of equities transacted on the floor of the Nigerian Stock Exchange (NSE) significantly rose on Friday, growing by 184 percent.

However, the total volume of stocks traded by investors depreciated by 8.7 percent at the close of trading activities on Friday.

Business Post reports that a total of 753.3 million shares worth N11 billion were exchanged yesterday in 7,253 deals in contrast to 825 million equities bought and sold on Thursday by investors in 6,220 deals valued at N3.9 billion.

But gains recorded by blue chips yesterday lifted the local stock market by 0.64 percent as investors continue to express confidence in the market as a result of the positive performance achieved last year.

When transactions ended at the stock market on Friday, the All-Share Index (ASI) increased by 247.14 points to settle at 38,923.26 points, while the market capitalisation appreciated by N88 billion to finish at N13.852 trillion.

Furthermore, the year-to-date return stood at 1.78 percent with the market breadth closing positive with 40 price gainers and nine price losers.

Our correspondent reports further that Nigerian Breweries led the gainers’ table yesterday with N2.10k added to its share price to close at N138.10k per share.

Unilever followed with a gain of N1.99k to end at N41.85k per share, while Forte Oil rose by N1.90k to finish at N46 per share.

In addition, Guinness Nigeria increased by N1.60k to settle at N95.60k per share, while Flour Mills of Nigeria added N1.43k to wrap the day at N31.88k per share.

On the other hand, top salt refiner, National Salt (NASCON Allied Industries Plc) led the losers’ chart with a loss of 61k to close at N20.18k per share.

PZ Industries followed with a loss of 40k to finish at N20 per share, while United Bank for Africa went down by 24k to end at N11 per share.

FBN Holdings fell by 23k to close at N9.28k per share, while Dangote Sugar drowned by 10k to settle at N21.85k per share.

The most traded equity at the stock market yesterday was Transcorp, transacting a total of 171.7 million shares worth N314.80 million.

It was trailed by Diamond Bank, which traded 89.7 million shares valued at N179.6 million, and FCMB, which exchanged 86.5 million shares for N172 million.

Zenith Bank sold N47.4 million shares worth N1.3 billion, while Fidelity Bank transacted 43.6 million shares valued at N129 million.