NSE: Stock market rallies as CONOIL, MTNN, Forte Oil lead gainers list

The Nigerian Stock Exchange (NSE) ended Tuesday trading on a sound note as it recorded notable improvement across major market indices, thus reversing the lacklustre performance it began the week with the day before. The All Share Index (ASI) appreciated by 0.18% to 26,739.44 basis points. The market has shed 13.61% year to date.

TOP 5 GAINERS

CONOIL was the biggest winner for the day, gaining 9.74% to close at N16.9. MTNN came next, ending the day at a unit price of N121.9, a 0.74% appreciation over its closing price yesterday. Forte Oil had its share price increase by 4.40% to close at N16.6. Nigeria’s largest brewer, Nigerian Breweries PLC, chalked up 1.03%, closing at N49. Ekocorp completed the pack with 10% gain at a closing price of N4.07.

TOP 5 LOSERS

WAPCO topped the losers’ chart, shedding 1.68% as it ended the day with a share price of N14.65. Zenith Bank slid by 1.07% to close at N18.5. UCAP recorded a 5.22% depreciation, closing at N2.18. Ecobank Transnational Incorporated (ETI) sustained its run of losses for the second consecutive day, falling marginally this timeby 1.43% with a closing price of N6.9. Afriprud finished at N4.2, losing 2.33% in the process.

TOP 5 TRADES

All in all, Tuesday saw 394,347,103 shares sold and purchased in 4,405 deals. In Naira terms, they amounted to N6,543,079,309.68.

UACN took the prime position on the activity chart, transacting 117,681,076 shares worth N826,983,308.90 in 153 deals.

FBN Holdings had 47,841,904 units of its shares traded for N323,883,959.75 in 438 transactions.

40,327,751 shares of Access Bank valued at N391,774,049.85 exchanged hands in 454 deals.

Zenith Bank traded 21,007,319 shares estimated at N390,724,143.70 in 435 deals. UBA completed the top five active stocks with 20,201,753 of its shares worth N144,507,302.60 transacted in 342 trades.

CORPORATE DISCLOSURE

The board of Access Bank Plc has notified the Exchange and the general public on the appointment of its new chairman, Dr. Ajoritsedere Awosika.

Dr. Awosika, whose appointment takes effect from January 8, 2020, will replace Mrs. Belo-Olusoga who is leaving the position after serving in that capacity for more than four years.

Mrs. Belo-Olusoga was appointed Access Bank chairman in July 2015.

Dr. Awosika has been a board member of the lender since April 2013.

She had also served on the boards of Chams Plc and Capital Express Assurance Limited.

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