Nigerian stock market improves by 0.08%

The market indicators of the Nigerian Stock Exchange (NSE) on Wednesday recorded a marginal growth of 0.08 per cent, halting a two-day negative trend. All-Share Index appreciated by 21.87 points or 0.08 per cent to close at 27,120.39 compared with 27,098.52 recorded on Tuesday. Also, the market capitalisation which opened at N9.307 trillion inched N8 billion or 0.08 per cent to close at N9.315 trillion.
An analysis of the price movement showed that Unilever led the gainers’ table, gaining N2.11 to close at N48.01 per share. Nigerian Breweries followed with a gain of 50k to close at N146 and Beta Glass also rose by 50k to close at N31.50 per share. E-tranzacts advanced by 47k to close at N5.12, while Dangote Sugar appreciated by 28k to close at N6.50 per share.
Conversely, Forte Oil recorded the highest loss to lead the losers’ chart, shedding N3.80 to close at N423.50 per share. Nestle trailed with a loss of N2.05 to close at N797.95, while Julius Berger declined by N2 to close at N38 per share. UACN lost 97k to close at N18.43 and CAP shed 18k to close at N3.50 per share.
Also, the volume of shares transacted closed higher with an exchange of 159.99 million valued at N1.74 billion achieved in 2,396 deals. This was against the turnover of 113.49 million shares worth N1.23 billion traded in 2,435 deals on Tuesday. FBN Holdings drove the volume, having accounted for 53.81 million shares worth N161.45 million.
It was followed by Unilever with 14.29 million shares valued at N685.72 million, while Transcorp sold 11.55 million shares worth N11.58 million. United Bank for Africa traded 11.29 million shares valued at N47.43 million and investors staked N63.22 million on 11.19 million shares of Access Bank.