Bullish Trend at NSE as Share Value Soar by N82bn

The value of listed equities’ on the Nigerian Stock Exchange (NSE) appreciated further, Tuesday, by N82.27 billion.
In particular equities value represented by the market capitalisation rose by 1.32 per cent to close at N6.325 trillion from N6.243 trillion at which it opened.

Another key performance indices the All share index garnered 336.37 points to close at 25,863.81points from 25,527.44 points.
The upward trend on share price was occasioned by major blue chip companies, led by Nigerian Breweries Plc with a gain of N3.31 to close at N69.58 per share, Benue Cement Company Plc followed with a gain of N0.94 to close at N62.99 per share and UAC Nigeria Plc garnered N0.80 to close at N44.00 per share.
Other share price gainers include: Lafarge Cement WAPCO Plc N0.73, Dangote Sugar Refinery Plc N0.59, Ecobank Transnational Incorporation N0.50, Ashaka Cement Plc N0.47, PZ Cussons Nigeria Plc N0.45, Zenith Bank Plc N0.45, Access Bank Plc N0.43, among others.

On the contrary, African Petroleum Plc recorded the most share price loss on the losers table dropping by N1.26 to close at N30.00 per share, First Bank of Nigeria Plc followed with a lose of N0.22 to close at N13.98 per share and Red Star Express Plc dipped by N0.19 to close at N3.80 per share.

Equity trading appreciated by 45.16 per cent as a turnover of 531.78 million shares valued at N4.36 billion was recorded in 7,285 deals, compared to the previous day’s turnover of 366.34 million shares valued at N3.56 billion in 6,028 deals.
The Banking sub-sector enjoyed the most patronage on the sectorial analysis accounting for 67.45 per cent of the market turnover with 358.68 million shares valued at N2.95 billion in 4,462 deals. Diamond Bank Plc was the most active in the sub-sector trading 83.51 million shares valued at N651.54 million in 114 deals, First Bank of Nigeria Plc followed with the exchange of 43.47 million shares valued at N616.44 million in 856 deals and Guaranty Trust Bank Plc recorded 29.73 million shares valued at N505.57 million in 557 deals.

Hotel and Tourism trailed on the sectorial analysis accounting for 9.24 per cent of the market turnover with 49.12 million shares valued at N227.25 million in 14 deals. Tourist Company of Nigeria led the sub-sector trading 49 million shares valued at N227.08 million in six deals and Ikeja Hotel Plc exchanged 116.2 thousand shares valued at N166 thousand in eight deals.