Zenith, UBA, Unity Bank shares boost market rally as index rises by 0.1%

Zenith Bank Plc, United Bank for Africa Plc and Unity Bank Plc shares boosted trading volume as the Nigeria Stock Exchange (NSE) All-Share Index gained 0.1 per cent or 40.46 basis points to close at 37,408.56 basis points, from 37,368.10 recorded on Tuesday.

The market capitalisation of the listed equities rose by N13bn or 0.1 per cent to close at N11.952tn, up from N11.939tn recorded on Tuesday.

The NSE-30 Index closed at 1,758.35 basis points, representing a rise of 0.03 per cent or 0.6 basis points from the 1,757.75 recorded on Tuesday, while the NSE's Consumer Goods Index rose marginally by 0.17 per cent or 1.84 basis points to close at 1,076.19 points.

The NSE Oil/Gas Index appreciated by 2.9 per cent or 6.66 basis points to close at 236.01 points.

However, the NSE Insurance Index and the NSE Banking Index fell by 1.29 per cent and 0.16 per cent to close at 402.61 basis points and 139.17 basis points, respectively.

The banking sub-sector accounted for 42.99 per cent of the total volume traded.

In the sub-sector, investors exchanged 154.357 million shares, valued at N2.135bn in 1,610 transactions.

Conoil Plc led the price gainers' chart, rising by 10.23 per cent or N4.14 to close at N44.62 per share.

CAP Plc followed on the chart with a gain of 10.22 per cent or N3.97 to close at N42.82 per share, while Transnational Corporation of Nigeria Plc appreciated by 5.88 per cent or 10 kobo to close at N1.80 per share.

On the other hand, Courteville Business Solutions Plc led the price losers, shedding 4.76 per cent or three kobo to close at 60 kobo per share, while NPF Microfinance Bank Plc lost 4.71 per cent or four kobo to close at 81 kobo per share.