NSE Index Rises 2.40% as Market Capitalisation Reaches N20.281trn
By Dipo Olowookere
Another growth was recorded on the floor of the Nigerian Stock Exchange (NSE) on Wednesday and bargain hunters had a field day, making the market to close 2.40 per cent higher.
The actions of the investors took the All-Share Index (ASI) by 910.13 points to 38,803.74 points from 37,893.61 points and pushed the market capitalisation higher by N475 billion to N20.281 trillion from N19.806 trillion.
Apart from the insurance index which closed 0.81 per cent lower and the energy index which closed flat, every other sector finished stronger.
The industrial goods counter appreciated by 3.10 per cent, the consumer goods space improved by 0.40 per cent, while the banking index went up by 0.18 per cent.
Airtel Africa was the best-performing stock with a price appreciation of N77.40 to settle at N851.80 per share, while BUA Cement gained N5 to close at N60 per unit.
Nigerian Breweries appreciated by N1 to end at N56 per unit, BOC Gases rose by 78 kobo to close at N8.70 per share, while Vitafoam gained 50 kobo to settle at N7.50 per unit.
Conversely, PZ Cussons was the worst-performing stock after it depreciated by 20 kobo to finish at N5.30 per unit, while FCMB lost 12 kobo to end at N2.90 per share.
Africa Prudential, May & Baker and Axa Mansard Insurance declined by 3 kobo each to close at N6.12 per share, N3.75 per share and 97 kobo per share respectively.
Business Post reports that during the midweek trading session, a total of 1.5 billion shares worth N18.8 billion exchanged hands in 4,316 deals in contrast to the 442.2 million shares worth N10.3 billion transacted in 4,948 deals on Tuesday.
Access Bank traded 1.0 billion stocks valued at N8.4 billion, Veritas Kapital exchanged 121.2 million equities worth N24.2 million, Flour Mills transacted 51.2 million shares for N1.4 billion, BUA Cement traded 50.7 million stocks for N2.8 billion, while Zenith Bank transacted 43.2 million shares valued at N1.1 billion.