NSE stock index inches up

Activities on the Nigerian Stock Exchange (NSE) on Tuesday inched up with market indicators rebounding by 0.15 per cent. The All-Share Index recorded marginal gain, appreciating by 43.83 points or 0.15 per cent to close at 28,857.34 compared with 28,813.51 recorded on Monday. Similarly, market capitalisation rose by N16 billion to close at N9.911 trillion against N9.895 trillion achieved on Monday.

Nigerian Breweries recorded the highest price gain to lead the gainers’ table, growing by N3.71 to close at N133.76 per share.

Lafarge Africa came second with a gain of N1.03 to close at N61.48, while UACN appreciated by 23k to close at N20.23 per share. Access Bank increased by 20k to close at N5.60 per share. On the other hand, Forte Oil topped the losers’ chart, dropping by N8.59 to close at N163.31 per share. Glaxosmithkline trailed with a loss of N2.01 to close at N18.77 and PZ Industries shed N1.13 to close at N21.57 per share.

Union Dicon Salt dipped by 86k to close at N16.49 and Stanbic IBTC dropped 78k to close at N14.99 per share.

In spite of the growth recorded by the market indices, the volume of shares traded closed lower with an exchange of 207.62 million shares valued at N3.64 billion transacted in 4,542 deals. This is in contrast with 273.36 million shares worth N3.44 billion traded in 4,865 deals on Monday. Transcorp drove the turnover volume, having accounted for 28.18 million shares valued at N41.01 million.

It was followed by GT Bank with a total of 25.52 million worth N611.21 million and Presco sold 13.12 million shares valued at N472.28 million.

Zenith International Bank transacted 12.88 million shares worth N210.42 million and FBN Holdings exchanged 11.96 million shares valued at N45.33 million.