Economy
Trading resumes in NSE after Eid-el-Fitr celebration with 0.07% growth
The Nigerian Stock Exchange (NSE) reopened trading on Wednesday after the public holidays to mark the Eid-el- Fitr with a marginal growth of 0.07 per cent.
Speficially, the All-Share Index rose by 16.48 points or 0.07 per cent to close at 25,221.23 compared with 25,204.75 achieved on Friday.
Similarly, the market capitalisation which opened at N13.135 trillion garnered N9 billion or 0.07 per cent to close at N13.144 trillion.
The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Nigerian Breweries, Dangote Cement, Stanbic IBTC Holdings, Guinness Nigeria and Dangote Sugar Refinery.
Market breadth remained positive with 32 gainers compared with 11 losers.
A breakdown of the price movement chart indicates that Nigerian Breweries led the gainers’ table in percentage terms, rising by 10 per cent, to close at N43.45, per share.
Stanbic IBTC Holdings followed with a gain of 9.98 per cent to close at N35.80, while May & Baker Nigeria rose by 9.96 per cent to close at N3.09, per share.
GlaxoSmithkline appreciated by 9.79 per cent to close at N7.85, while Access Bank grew by 9.70 per cent to close at N7.35, per share.
Conversely, Ardova Plc led the laggards’ chart in percentage terms, depreciating by 10 per cent, to close at N14.40, per share.
Regency Alliance followed with a decline of 8.70 per cent to close at 21k, while Afromedia lost 7.14 per cent to close at 26k, per share.
Transcorp dropped 6.49 per cent to close at 72k, while Wapic Insurance shed 6.06 per cent each to close at 31k, per share.
The total volume of shares traded increased by 124.06 per cent with an exchange of 581.61 million shares valued at N5.59 billion in 7,759 deals.
This in contrast with a turnover 259.58 million shares worth N2.88 billion shares transacted in 5,605 deals on Friday.
Transactions in the shares of FBN Holdings topped the activity chart with 120.86 million shares valued at N681.87 million.
Zenith Bank followed with 67.27 million shares worth N1.19 billion, while Guaranty Trust Bank traded 62.69 million shares valued at N1.54 billion.
United Bank of Africa traded 45.79 million shares worth N328.62 million, while Transcorp transacted 36.54 million shares worth N26.99 million.
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