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NSE: Market rallies on interest in heavyweight industrial & consumer goods stocks

The Nigerian Stock Exchange (NSE) found resilience on Wednesday after three straight trading days of loss as speculators renewed interest in major industrial and consumer goods stocks comprising Dangote Cement, Nigerian Breweries, WAPCO and Dangote Sugar.

Wednesday’s gain of N300.548 billion also received support from a growth of 2.98% to 586.66 basis points in the Consumer Goods Index, making it the best performer of the 5 sectorial indices.

38 gainers were recorded compared to 8 losers, causing the market to close with a positive breadth

The All Share Index (ASI) inched up by 1.68% to close at 34,818.01 basis points. Market capitalisation jumped to N18.193 trillion.

Year to date, the index is up by 29.71%.

TOP 5 GAINERS

Linkage Assurance led gainers, appreciating by 10% to close at N0.55. Sterling grew by 10% to end today’s trade at N2.09. WAPCO went up by 9.55% to N24.10. Honeywell Flour rose to N1.16, notching up 9.43% in the process. ABC Transport completed the top 5, climbing up by 9.38% to N0.35.

READ ALSO: NSE: Market contracts by N277.598bn after profit-taking in big-cap equities

TOP 5 LOSERS

Cornerstone topped the losers’ chart declining by 8.62% to close at N0.53. Regal Insurance shed 8.33% to end today’s trade at N0.22. Mutual Benefit fell to N0.26, losing 7.14% in the process. Union Diagnostic dipped to N0.26, recording 7.14% depreciation. Unity Bank closed at N0.80, going down by 6.98%.

TOP 5 TRADES

661.132 million shares estimated at N8.298 billion were traded today in 7,324 deals.

Transcorp was the most active stock with 160.581 million of its stocks worth N172.163 million traded in 341 deals. 70.682 million units of GTB shares priced at N2.620 billion exchanged hands in 405 transactions. Zenith had 57.304 million shares valued at N1.539 billion traded in 716 deals. Access traded 55.177 million shares estimated at N491.877 million in 439 transactions. FBN Holdings traded 37.622 million shares valued at N295.922 million in 424 deals.

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