NSE market indices reverse negative trend, up by 0.22%

Transactions on the Nigerian equity market on Wednesday reversed a two-week bearish trend with the market indicators appreciating marginally by 0.22 per cent. The All-Share Index grew by 55.66 points or 0.22 per cent to close at 25,517.00 against 25,461.34 recorded on Tuesday.

The market capitalisation, which opened at N8.764 trillion, inched N20 billion to close at N8.784 trillion due to price growth. Nestle recorded the highest gain to lead the gainers’ table, growing by N10 to close at N810 per share. CAP chalked up 93k to close at N33, while Flour Mills gained 89k to close at N18.74 per share.

PZ Industries appreciated by 71k to close at N15.20 and Glaxosmithkline increased by 46k to close at N14 per share. Conversely, Total, for the second consecutive day, led the losers’ chart, dropping by N10.58 to close at N70 per share. Julius Berger shed N1.90 to close at N36.10 and Africa Prudential dropped 12k to close at N2.66 per share.

Dangote Sugar lost 6k to close at N6 per share. Similarly, the volume of shares traded appreciated by 37.05 per cent with an exchange of 165.73 million shares valued at N1.13 billion transacted in 2,484 deals. This was against a total of 120.93 million shares worth N1.19 billion exchanged in 2,397 deals on Tuesday.

A breakdown of the activity chart showed that Diamond Bank was investors’ delight, accounting for 34.44 million shares worth N32.72 million. It was trailed by Access Bank with 32.65 million shares valued at N181.89 million, while FBN Holdings sold 21.91 million shares worth N66.13 million. Transcorp transacted 12.69 million shares valued at N8.65 million and Skye Bank traded 12.19 million shares worth N6.27 million.