NSE LIVE! Equities open with N22b gains |Ripples Nigeria
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NSE LIVE! Equities open with N22b gains

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NSE LIVE! Equities remain down as selloff persists

Nigerian equities reopened Wednesday after a two-day public holiday with considerable buying sentiments as market value of all quoted companies rose by N22 billion in five hours of trading at the Nigerian Stock Exchange.

The government had declared Monday and Tuesday as public holiday to celebrate the Eid il Kabir, Muslim’s major festival.

The two main indicators at the stock market closed positive. The All Share Index (ASI), the main index that tracks prices at the Exchange, rose by 0.23 per cent to close at 27,642.13 points. Similarly, the market capitalization appreciated by N22 billion to close at N9.495 trillion.

However, with more losers than gainers, the overall market performance was driven by gains by some major capitalised stocks including Conoil, Unilever Nigeria, Dangote Cement, Flour Mills of Nigeria and Lafarge Africa.

There were 15 gainers and 19 losers. Conoil led the gainers table by 10.17 per cent to close at N26.21 per share. Unilever followed with a gain of 4.99 per cent to close at N42.28, while African Prudential advanced by 4.84 per cent to close at N2.60 per share.

While Unity Bank went up by 2.94 per cent to close at 70 kobo and Champion Breweries rose by 2.41 per cent to close at N2.55 per share.

On the other hand, Diamond Bank led the laggards’ table by 5.83 per cent to close at N1.13 per share. Sterling Bank trailed with a loss of 4.95 per cent to close at 96 kobo, while Transnational Express and FCMB declined by 4.67 per cent each to close at N1.02 each per share. While Aiico Insurance shed by 4.48 per cent to close at 64 kobo.

Meanwhile, the total volume traded declined by 33.19 per cent to 182.298 million shares, valued at N1.79 million, and traded in 2,776 deals. Transactions in the shares of Guaranty Trust Bank topped the activity chart with 43.33 million shares valued at N1.17 billion.

Diamond Bank followed with 31.02 million shares worth N35.61 million, while FCMB traded 21.92 million shares valued at N22.56 million.

FBN Holdings traded 16.41 million shares worth N50 million and Skye Bank transacted 14.77 million shares valued at N9.63 million.

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