24 Stocks Lift Equities Market by 0.44%

By Modupe Gbadeyanka

Nigerian Stocks closed on a positive note on Wednesday for the first time this week, growing by 0.44 percent at the end of transactions.

A total of 24 equities appreciated today against 22 depreciating stocks, leaving the market breadth to end positive.

Nestle was the highest gainer today on the floor of the Nigerian Stock Exchange (NSE), advancing by N4.76k to settle at N1210.6k per share.

It was trailed by Dangote Cement, which moved up by N4 to close at N210 per share, and Zenith Bank, which improved by 39k to finish at N22.51k per share.

Furthermore, International Breweries added 32k to its share value to end at N36 per share, while Stanbic IBTC expanded by 25k to wrap the day at N39.75k per share.

On the other hand, Mobil was the biggest loser, shedding N2.1k to close at N167.99k per share, while Nigerian Breweries depreciated by N1.50k to finish at N165.50k per share.

GTBank fell by 40k to finish at N39.20k per share, Lafarge declined by 24k to close at N49.78k per share, and PZ Cussons went down by 22k to settle at N25 per share.

Business Post reports that despite the gain recorded today, the volume and value of shares transacted at the market depreciated.

At the close of trading activities, investors traded 136.4 million shares in 2,860 deals worth N1.3 billion against 500.3 million shares exchanged yesterday in 3,120 deals valued at N3.6 billion.

A breakdown of the trades showed Jaiz Bank emerging the most active stock, exchanging 35.9 million shares for N26 million.

Meyer sold 20 million shares at N14 million, while FBN Holdings transacted 6.7 million shares valued at N36.8 million.

In addition, Diamond Bank traded 5.4 million shares worth N6 million, and Access Bank exchanged 4.9 million shares valued at N46.2 million.

The All-Share Index (ASI) today increased by 152.13 points to settle at 35,103.40 points, while the market capitalisation improved by N52.4 billion to close at N12.1 trillion.

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