Stock Market Makes Gain After Two Days Of Losses
BEVERLY HILLS, September 07, (THEWILL) – Equity transactions on the Nigerian Stock Exchange on Wednesday reversed positively after depreciating for two consecutive days with market indicators rebounding by 0.07 per cent.
NAN reports that the market capitalisation appreciated by N7 billion or 0.07 per cent to close at N9.454 trillion against N9.447 trillion achieved on Tuesday .
Similarly, the All-Share Index recorded marginal gain, appreciating by 18.81 points or 0.07 per cent to close at 27,522.62 compared with 27,503.81 recorded on Tuesday .
Guinness recorded the highest price gain to lead the gainers' table, growing by N1.88 to close at N97.85 per share.
Seplat came second with a gain of N1.87 to close at N320.2, while Lafarge Wapco appreciated by N1.7 to close at N58 per share.
Unilever increased by N1.01 to close at N40.04 and Nigerian Breweries up by 19k to close at N140.2 per share.
On the other hand, 7UP topped the losers' chart, dropping by N7.24 to close at N137.66 per share.
Forte oil trailed with a loss of N6.94 to close at N165.06 per share.
Total Oil shed N1 to close at N240, while Mobil Oil dipped by 72k to close at N170.06 and UACN went down by 7k to close at N20.8 per share.
In the same vein, the volume of shares traded closed higher with an exchange of 295.71million shares valued at N3.59 billion transacted in 3,709 deals.
This was in contrast with the 1796.78 million shares worth N1.89 billion traded in 3,682 deals on Tuesday .
GTBank drove the turnover volume, having accounted for 68.95 million shares valued at N1.85 billion.
It was followed by Access Bank with a total of 30.76 million worth N166.34 million and Fidelity Bank sold 26.96 million shares valued at N24.56 million.
UBA Bank traded 26.62 million shares valued N24.56 million and Zenith Bank transacted 23.14 million shares worth N337.98 million.
Story by David Oputah