Stocks Value Rise by N65b Amid Drop in Trading Volume

February 2, 2018
financial stocks

By Modupe Gbadeyanka

The value of equities listed on the Nigerian Stock Exchange (NSE) increased on Friday by N64.5 billion despite the volume of shares traded by investors going down.

Business Post reports that a total of 535.3 million shares worth N3.6 billion exchanged hands today in 6,054 deals in contrast to the 630.6 million units sold yesterday in 7,079 deals valued at N3.4 billion.

It was gathered that bargain-hunting activities dominated the market, settling the stock market further in the green zone by 0.40 percent and leaving the year-to-date return at 16.73 percent.

There was an increase in the All-Share Index (ASI) as it added 179.81 points to close at 44,639.99 points, while the market capitalisation appreciated by N64.5 billion to finish at N16.019 trillion.

Our correspondent reports that today’s growth was inspired by gains recorded by Dangote Cement, which advanced by N3 to close at N278 per share.

It was followed by CCNN, which rose by 90k to finish at N19.50k per share, and Zenith Bank, which appreciated also by 90k to end at N31.95k per share.

Unilever gained 70k to settle at N47.45k per share, while PZ Cussons also grew by 70k to close at N23.10k per share.

On the flip side, Nestle led the laggards’ chart after shedding N25 of its share value to close at N1445 per share.

It was trailed by Guinness Nigeria, which lost N3 to finish at N110 per share, and Forte Oil, which went down by N2.50k to end at N48.45k per share.

Nigerian Breweries depreciated by N2.40k to settle at N144.50k per share, while Lafarge went down by 50k to close at N54 per share.

Like the previous trading days, the Financial Services sector led the activity chart with 443.5 million shares traded for N2.6 billion, while the Conglomerates industry followed with 43.7 million equities sold for 112 million.

FCMB was the darling of investors today, exchanging a total of 86.6 million shares worth N262.9 million at the close of market activities.

Skye Bank sold 76 million units worth N108.7 million, while Transcorp transacted 42.6 million equities valued at N98.7 million.

Diamond Bank traded 41 million shares worth N130.6 million at the market on Friday, while FBN Holdings exchanged 30.5 million units for N420.7 million.

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.

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