Okomu Oil, 16 Other Stocks Lift Customs Street by 0.17%

By Modupe Gbadeyanka

Trading activities on Customs Street, Lagos closed bulling last Friday after Okomu Oil led 16 other stocks at the market to the green territory.

The 17 equities ensured that the losses posted by 15 stocks on the Nigerian Stock Exchange (NSE) did not overpower their gains, helping the market close 0.17 percent after days of panic selling.

This resulted in the All-Share Index (ASI) growing by 38.19 points from 22,695.88 points to 22,734.07 points. It also lifted the market capitalisation by N20 billion from N11.827 trillion to N11.847 trillion.

On the trading day, Okomu Oil gained N4.70 to close at N60 per share, Flour Mills appreciated by N1.60 to close at N21.40 per share, Zenith Bank rose by N1.05 to close at N11.90 per share, GTBank grew by 90 kobo to close at N19 per share, while UBA garnered 55 kobo to close at N6.15 per share.

On its part, Seplat was the highest price loser, depreciating by N60.50 to N544.50 per share, while Nigerian Breweries followed with a loss of N1.70 to close at N28 per share.

International Breweries fell by 60 kobo to N5.75 per share, Cadbury Nigeria declined by 55 kobo to N4.95 per share, while Access Bank depreciated by 45 kobo to close at N5.40 per share.

Business Post reports that last Friday, the activity level was mixed as a result of the 30.76 percent loss by the trading volume and the 4.18 percent growth posted by the value of transactions.

A total of 733.2 million shares worth N10.2 billion exchanged hands in 6,703 deals during the session compared with 1.1 million equities valued at N9.8 billion transacted the previous session in 5,501 deals.

About 162.2 million units of GTBank shares worth N3.0 billion were mopped up by investors during the trading day, higher than any other stock traded at the session.

Zenith Bank exchanged 161.1 million equities valued at N1.8 billion, FBN Holdings transacted 120.1 million shares for N477.2 million, UBA traded 73.7 million units worth N443.4 million, while Nigerian Breweries sold 27.9 million shares valued at N782.6 million.

An analysis of how the five major sectors of the bourse faired last Friday showed that the banking index grew by 4.17 percent, while the insurance index appreciated by 2.70 percent.

However, the oil/gas sector lost 4.89 percent, the consumer goods sector depreciated y 1.31 percent, while the industrial goods sector declined by 0.04 percent.