Business Latest

NSE: Bellwethers drive N67 billion gain

For the second straight day running, the Nigerian stock market recorded gain on Wednesday as the volume of equities put up for sale, particularly bellwether stock, outweighed investors’ demand.

Seplat, Nigerian Breweries, MTNN, Mobil and Flour Mills contributed in no small measure to the bullish trend.

All the 5 sector indices appraised rose, with the Oil and Gas Index, the top performing sector, climbing by 2.02% to 193.33 basis points.

Trade ended with a positive breadth with 21 gainers recorded against 14 losers.

The All Share Index (ASI) edged up by 0.50% to close at 25,783.02 basis points. The market capitalisation climbed up by N67 billion to N13.475 trillion at the end of trade. Year to date, the index is down by 3.95%.

TOP 5 GAINERS

Prestige led the flock of gainers today, appreciating by 9.09% to close at N0.60. International Breweries added up 9.09% to end today’s trade at N3.60. Cornerstone went up by 8.33% to N0.65. UA Property rose to N1, notching up 5.26% in the process. Seplat completed the top 5, climbing by 3.90% to N400.

READ ALSO: NSE: Trade almost flat as buy and sell pressure stretched taut

TOP 5 LOSERS

ABC Transport led losers at Friday’s trade, declining by 9.09% to close at N0.30. Red Star Express shed 6.90% to end today’s trade at N0.27. Eterna fell to N2.50, losing 6.70%. NPF Microfinance slumped to N1.22, recording 6.15% depreciation. AIICO closed at N0.86, going down by 3.37%.

TOP 5 TRADES

415.161 million shares estimated at N6.280 billion were traded today in 3,793 deals.

Sterling was the most active stock with 85.205 million of its stocks worth N606.959 million traded in 4 deals. 82.744 million units of FBN Holdings shares priced at N413.700 million exchanged hands in 275 transactions. Access had 58.205 million shares valued at N232 million traded in 236 deals. Zenith traded 28.454 million shares estimated at N480.210 million in 406 transactions. MTNN traded 25.716 million shares valued at N3.126 million in 134 deals.

Ronald Adamolekun

Join the conversation

Opinions

About the author

Ronald Adamolekun

Ronald Adamolekun is a creative writer with a mixed bag of experience in fields as diverse as data journalism, financial reporting and editing.

/* ]]> */