Nigerian Stock Market Rebounds, Gains 0.49%

April 19, 2017

By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) dusted itself from Tuesday’s huge loss to finish strong on Wednesday, the second trading day for the week.

The stock market had suffered a loss of N105 billion after coming from the Easter break. But on Wednesday, April 19, 2017, the market ended positive with a rise of 0.49 percent.

The volume of shares transacted by investors today appreciated, though the volume declined, Business Post correspondent reports.

A total of 322.3 million shares were traded on the floor of the NSE on Wednesday in 2,907 deals valued at N1.5 billion compared with 255 million shares exchanged on Tuesday in 2,854 deals worth N2.5 billion.

Our correspondent further reports that major market indicators finished the day pointing northward.

The All-Share Index progressed by 124.7 points to close at 25,331.77 points, while the market capitalisation rose by N43.2 billion to end at N8.765 trillion.

At the close of trading activities today, the year-to-date return stood at -5.74 percent, while the market breadth closed positive with 15 gainers in contrast to 13 losers.

Nestle led the gainers’ chart with a rise of N21.93k to end at N750 per share, while PZ Cussons increased by 64k to finish at N14.64k per share.

GTBank rose by 33k to close at N24.83k per share, First Bank advanced by 26k to end at N3.62k per share and Stanbic IBTC improved by 11k to finish at N19.1k per share.

On the losers’ chart, Okomu Oil topped with a loss of N2.63k to end at N49.88k per share and UACN trailed by going down by 19k to close at N14.60k per share.

Cadbury depreciated by 16k to finish at N9.30k per share, United Capital dropped 10k to close at N2.80k per share and Honeywell Flour also crashed by 10k to end at 98k per share.

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

Previous Story

Futures Pointing To Early Strength On Wall Street

Next Story

FTSE 100 Index Sheds 0.3% as French CAC 40 Index Adds 0.3%

Latest from Economy