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NSE: Market index grows as equities extend gains

By The Citizen
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The equities segment of the Nigerian Stock Exchange closed on a positive note for the third straight day on Thursday following news of the devaluation of the naira by the Central Bank of Nigeria.

The market capitalisation of the listed equities rose by N40bn or 0.35 per cent to N11.457tn, while the NSE All Share Index was up by 122.19 basis points or 0.35 per cent to close at 34,705.48 basis points.

The NSE 30 Index, which measures the performance of the 30 most-capitalised companies on the Exchange, gained 17.27 basis points or 1.1 per cent to close at 1,586.29, while the NSE Banking Index rose by 2.24 basis points or 0.6 per cent to 369.43 basis points.

The banking sub-sector led the activity chart, accounting for 48.8 per cent of total turnover volume traded on Thursday.

In the sub-sector, investors exchanged 237.409 million shares worth N2.395bn in 1,958 deals. Volume was driven by trading in the shares of Zenith Bank Plc, Sterling Bank Plc, United Bank for Africa Plc, Access Bank Plc and Fidelity Bank Plc.

In all, 486.510 million stocks valued at N4.631bn were traded in 5,002 deals with 38 equities appreciating in price, while 17 others recorded price depreciation.

Flour Mills of Nigeria Plc topped the gainers' table, rising by 10.23 per cent or N4.68 to close at N50.43 per share.

It was followed closely by Presco Plc, which rose by 10.22 per cent or N2.67 to close at N28.80 per share.

May and Baker Nigeria Plc was up by 9.52 per cent or 14 kobo to close at N1.61 per share, while Eterna Plc and Costain (West Africa) Plc gained 9.49 per cent and 8.79 per cent to close at N2.23 and 99 kobo per share, respectively.

Evans Medicals Plc, Wema Bank Plc and Seplat Petroleum Development Company Plc led the losers, shedding five per cent each to close at N2.09, 95 kobo and N418.01 per share, respectively.

They were followed by Computer Warehouse Group and Transnational Corporation of Nigeria Plc, which fell by 4.82 and 4.81 per cent to close at N4.34 and N3.96 per share in that order.