NSE Index Close 0.15% Higher as Investors Gain N18b

By Dipo Olowookere

The last trading day of the week closed on the floor of the Nigerian Stock Exchange (NSE) closed on a high note on Friday.

This was because the local stock market appreciated by 0.15 percent yesterday as confidence is gradually returning to the market, reducing the year-to-date loss to 19.29 percent.

Though the banking index slipped by 0.47 percent yesterday, the 1.95 percent increase posted by the consumer goods index offset the loss.

At the close of transactions, the All-Share Index (ASI) appreciated by 47.72 points to settle at 30,866.82 points, while the market capitalisation increased by N18 billion to finish at N11.269 trillion.

Business Post reports that a total of 10 stocks appreciated in value on Friday against 20 equities, which recorded losses.

Nestle Nigeria topped the gainers’ table after appreciating by N69 percent to settle at N1549 per share, while Dangote Sugar followed with 40 kobo rise to close at N13.50k per share.

Ikeja Hotel rose by 17 kobo to end at N1.87k per share, Access Bank grew by 15 kobo to close at N7.45k per share, and Diamond Bank gained 9 kobo to end at N1.02k per share.

On the other hand, it was a bad day for Dangote Cement as its stock lost N1 to settle for the day at N184 per share.

It was followed by Flour Mills, which reduced by 80 kobo to end at N20.20k per share, and Newrest ASL Nigeria, which went down by 70 kobo to quote at N6.30k per share.

Stanbic IBTC fell by 50 kobo to close at N46.50k per share, while NNFM depreciated by 50 kobo to settle at N4.80k per share.

During Friday’s trading session, the volume of shares exchanged decreased by 36.29 percent, while the value declined by 37.51 percent.

At the close of business, a total of 179 million equities worth N1.6 billion were transacted by investors in contrast to the 280.9 million stocks valued at N2.5 billion exchanged in the previous session.

The Financial Services sector led the activity chart with 100.1 million shares exchanged for N848 million, followed by the Oil and Gas sector with a turnover of 62.5 million equities worth N326 million.

The most traded stock at the market yesterday was Oando, which recorded a turnover of 60.4 million units valued at N310.8 million.

FCMB sold 22.4 million shares valued at N33.7 million, while Diamond Bank exchanged 14.3 million stocks worth N14.2 million. Sterling Bank transacted 11.9 million shares for N20.1 million, while Zenith Bank exchanged 11.1 million equities for N259.5 million.