18 Stocks Keep Local Bourse Bullish by 0.10%

Trading of Stocks

By Dipo Olowookere

Transactions at the Nigerian Stock Exchange (NSE) remained bullish on Wednesday following the 0.10 percent growth post at the session.

Eighteen stocks listed on the local bourse sustained the positive momentum despite the market breadth finishing negative with 19 price losers.

Apart from the insurance sector, which marginally grew by 0.05 percent and the energy index, which went flat, every other sector closed negative, with banking down by 0.58 percent, consumer goods down by 0.38 percent, while the industrial goods counter fell by 0.16 percent.

Business Post reports that Presco was the highest price gainer yesterday, appreciating by N3.75 to close at N45.25 per share, while MTN Nigeria grew by N1.50 to settle at N118 per share.

Stanbic IBTC increased by 70 kobo to N33.20 per unit, Ecobank appreciated by 40 kobo to sell at N5.55 per unit, while SAHCO gained 20 kobo to quote at N2.27 per unit.

On the other hand, Guinness Nigeria was the heaviest price loser, depreciating by N1 to sell at N19 per share, while UAC Nigeria shed 70 kobo to quote at N7.70 per share.

Dangote Cement declined by 50 kobo to sell at N140.50 per unit, C&I Leasing lost 50 kobo to settle at N4.85 per share, while PZ Cussons depreciated by 50 kobo to sell at N4.80 per unit.

A total of 353.3 million shares worth N7.0 billion were traded in 4,659 deals on Wednesday as against the 377.9 million equities worth N6.1 billion traded on Tuesday in 4,585 deals, indicating a 6.50 percent decline in the trading volume and 16.12 percent and 1.61 percent rise in the trading value and number of deals.

FBN Holdings was the most traded stock at the midweek session, exchanging 50.3 million units worth N277.3 million, while Nigerian Breweries traded 45.9 million shares for N2.0 billion.

GTBank transacted 42.4 million shares for N1.1 billion, Japaul Oil sold 23.1 million equities valued at N6.0 million, while Zenith Bank traded 21.8 million stocks for N373.0 million.

At the close of business, the All-Share Index (ASI) increased by 24.53 points to 25,407.96 points from 25,383.43 points, while the market capitalisation grew by N12 billion to N13.254 trillion from N13.242 trillion.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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