Blue-Chip Stocks Lift Equities Market to N69b Gain
By Modupe Gbadeyanka
Quoted equities on the Nigerian Stock Exchange (NSE) closed Wednesday’s transactions with a net capital gain of N69 billion, Business Post reports.
The National Bureau of Statistics (NBS) released inflation for May 2017 today and it showed a further decline to 16.25 percent from 17.24 percent in April.
With 33 gainers and 24 losers at the close of trading activities on Wednesday, the fundamental sentiments at the NSE remained widely positive with the year-to-date return finishing at 25.76 percent.
Our correspondent reports that the major market indicators pointed north, with the All-Share Index (ASI) growing by 0.59 percent or 199.64 points to close at 33,797.84 points, while the market capitalisation increased by N69 billion to end at N11.69 trillion.
Nigerian Breweries topped the gainers’ log today with a rise of N3.75k to close at N163.75k per share and was trailed by Unilever, which appreciated by N2.30k to finish at N43 per share.
Seven-Up rose by N1.50k to end at N91.80k per share, Zenith Bank added N1.1k to settle at N22.90k per share and GTBank progressed by 59k to wrap the day at N36 per share.
On the losers’ chart, Mobil claimed the top spot with a decline of N11.51k to settle at N265 per share and was trailed by Seplat, which went down by N5.51k to close at N460 per share.
Also, Lafarge lost N1.49k to end at N53.50k per share, International Breweries collapsed by 61k to finish at N27.95k per share, while Forte Oil tripped by 42k to close at N55.58k per share.
Though the volume of shares transacted at the market on Wednesday declined, the valued closed higher.
Investors traded a total of 573.6 million shares worth N7.9 billion executed in 6,584 deals against 759 million shares exchanged yesterday in 7,357 deals valued at N6.3 billion.