Transactions on NSE maintain bullish trend

By The Rainbow
Listen to article

Transactions on the Nigerian Stock Exchange (NSE) on Monday reopened for the week on bullish note with some blue chips sustaining price rally.

The News Agency of Nigeria (NAN) reports that Nestle maintained its price leadership, gaining N56.43 to close at N1,185.19 per share.

Forte Oil came second on the gainers' chart with N7.27 to close at N78.30, while MRS rose by N3.80 to close at N41.79 per share.

UAC Property grew by 81k to close at N18.90, while PZ Cussons appreciated by 63k to close at N38.25 per share.

Consequently, the NSE All-Share appreciated by 171.79 basis points or 0.45 per cent to close at 37.937.61 against the 37,765.82 achieved on Friday.

Also, the market capitalisation, which opened at N12.066 trillion, rose by N55 billion or 0.46 per cent to close at N12.121 trillion.

On the other hand, Guinness topped the losers' chart, dropping N6.03 to close at N240.50 per share.

Okomu Oil followed with a loss of N1 to close at N43, while Flour Mills dipped 90k to close at N84.10 per share.

UACN lost 44k to close at N65.56, while Nigerian Breweries lost 40k to close at N175.20 per share.

In all, a total of 254.64 million shares valued at N3.40 billion were exchanged in 4,593 deals, representing a growth of 12.33 per cent.

NAN reports that this was against a turnover of 226.69 million shares worth N3.07 billion achieved in 4,111 deals on Friday.

Transcorp emerged the most traded stock, accounting for 43.81 million shares valued N84.42 million.

It was trailed by Zenith Bank, which sold 29.86 million shares worth N636.86 million, while GT Bank accounted for 24.06 million shares valued N627.66 million.

UBA traded 21.42 million shares worth N174.55 million, while investors in Unity Bank staked N8.09 million on 15.79 million shares.