NSE Jumps 0.31% as Trading Volume Rises 755% on Champion Breweries

January 8, 2021
Champion Breweries

By Dipo Olowookere

There was a significant rise, about 755 per cent, in the trading volume of the floor of the Nigerian Stock Exchange (NSE) on Thursday.

This was buoyed by the sale of Champion Breweries during the session, trading 1.9 billion units of its shares valued at N5.0 billion.

UBA exchanged 26.5 million stocks for N228.5 million, Dangote Sugar transacted 21.5 million equities worth N397.9 million, Fidelity Bank traded 15.7 million stocks valued at N39.8 million, while Access Bank exchanged 13.3 million shares worth N117.1 million.

At the close of transactions, the number of shares transacted by market participants grew by 754.95 per cent to 2.1 billion units from 249.5 million units, the trading value increased by 243.81 per cent to N7.5 billion from N2.2 billion, while the number of deals dropped 25.16 per cent to 4,558 deals from 6,090 deals.

Yesterday, the stock market appreciated by 0.31 per cent, causing the All-Share Index (ASI) to rise by 125.70 points to 40,590.85 points from 40,465.15 points and moved the market capitalisation higher by N66 billion to N21.224 trillion from N21.158 trillion.

The growth was influenced by the gains recorded in three of the major sectors of the exchange. The oil/gas counter grew during the day by 5.65 per cent, the consumer goods sector appreciated by 0.75 per cent, while the banking space rose by 0.53 per cent.

Business Post reports that the insurance index went down marginally by 0.02 per cent, while the industrial goods industry closed flat.

The market breadth closed positive on Thursday as a result of the 27 price gainers and 14 price losers, with Seplat emerging the best-performing stock, gaining N41 to settle at N451 per unit.

Nigerian Breweries appreciated by N2 to sell for N58 per share, Ardova rose by N1.35 to finish at N14.90 per unit, Dangote Sugar improved by 70 kobo to close at N19 per share, while GTBank gained 50 kobo to sell for N33 per unit.

On the flip side, Unilever Nigeria closed as the worst-performing equity, losing 90 kobo to sell at N13 per share and was trailed by Guinness Nigeria, which lost 75 kobo to settle at N17.65 per unit.

Flour Mills depreciated by 30 kobo to end at N26.70 per share, Fidson went down by 20 kobo to trade at N4.50 per unit, while NAHCO fell by 10 kobo to close at N2.20 per share.

Dipo Olowookere

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 [email protected]

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