Business
NSE: Stocks end week on positive note with 0.27% gain
Transactions of traded equities on the floor of the Nigerian Stock Exchange (NSE), on Friday, ended the week on a positive note, as market indicators took an upward trend to gain N40 billion.
Market capitalization of listed equities, which opened with N14.89 trillion appreciated by 0.27% to close at N14.93 trillion while the NSE All Share Index (ASI) rose by 27 basis points to close at 41,218.72 points.
Nestle topped the advancers’ list by adding N4.90 to close at N1575 per share. International Breweries trailed with N4.30 to close at N51.80 per share.
Beta Glass followed with N3.95 to close at N83.20 per share while Okomu Oil Palm rose with N4.30 to close at N51.80 per share, and Nigerian Breweries advanced with N1.80 to close the session at N129 per share.
On the decliners’ list, Seplat emerged the biggest loser by shedding N15 to close at N750 per share. Mobil dropped N9.40 to close N180.40 per share while Presco fell by 50k to close N8.35 per share. Also, OANDO lost 35k to close the market at N8.70 per share while Ecobank Transnational Incorporated (ETI) depreciated by 25k to close at N20.55 per share.
Read also: Minister Shittu highlights benefits of 4G to economy, health
Investors traded a total turnover of 283.63 million shares valued at N4.23 billion in 4,187 deals against 320.4 million shares valued at N4.8bn in 4,482 deals on Thursday.
Access Bank was the most active stock as 40.53 million shares valued at N460 million were exchanged while the bank was trailed C& I Leasing with 31.52 million shares worth N52.89 million were traded.
Sterling Bank followed with 25.20 million shares valued at N41.82 million. United Bank for Africa Bank sold 17.05 million shares at N199.60 million, while Fidelity Bank traded 14.21 million shares at N34.82 million.
Analysts at Afrinvest said, “In the coming week, we anticipate a positive performance anchored on buy interest in large and mid-cap stocks following largely positive Q1: 2018 earnings.
“However, we do not rule out the possibility of profit taking during the week.”
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