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Equity trading: Index grows by 0.88%

By The Citizen

The rally in the equities segment of the Nigerian Stock Exchange, which began last week, continued on Wednesday, with the NSE's All-Share Index going up by 322.98 basis points or 0.88 per cent to close at 36,908.06 points; a rise from 36,585.08 points recorded on Monday.

Similarly, the market capitalisation of the listed equities gained N55bn from N11.653tn on Monday, to close at N11.708tn.

The NSE-30 Index rose by one per cent or 17.19 basis points from 1,716.07 points to close at 1,733.26 points, while the NSE Consumer Goods Index gained 1.35 per cent or 14.04 basis points to close at 1,046.68 points.

The NSE Banking Index and NSE Insurance Index also appreciated by 1.49 per cent and 0.15 per cent to close at 394.96 basis points and 138.28 points, respectively.

A total of 33 stocks recorded price appreciation, while 14 stocks lost.

International Energy Insurance Plc gained the highest, rising by 9.68 per cent or six kobo to close at 68 kobo per share.

Red Star Express Plc followed with a gain of 4.82 per cent or 20 kobo to close at N4.35 per share. Costain (West Africa) Plc appreciated by 4.76 per cent or five kobo to close at N1.10 per share, while Presco Plc rose by 4.52 per cent or N1.47 to close at N33.97 per share.

On the flip side, GlaxoSmithKline Consumer Nigeria Plc recorded the highest loss for the day, shedding five per cent or N3.43 to close at N65.55 per share.

Okomu Oil Plc and Jos International Breweries Plc lost five per cent and 4.80 per cent to close at N43.70 and N3.97 per share, respectively, while Learn Africa Plc and Thomas Wyatt Nigeria Plc fell by 4.62 per cent and 4.04 per cent to close at N1.86 and 94 kobo per share in that order.

The banking sub-sector dominated the activity chart, accounting for 54 per cent of the 396.432 million shares valued at N4.897bn, which were traded in 4,359.