Nigeria capital market index closes upbeat

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March 8, 2018 4:41 PM

The index was lifted by gains posted by Unilever, Stanbic IBTC, Guaranty Trust Bank and Guinness, among others.

The All-Share Index of the Nigerian Stock Exchange (NSE) returned to positive territory on Thursday with a growth of 0.44 per cent after a day’s loss.

The News Agency of Nigeria (NAN) reports that the index closed higher at 43,092.63 against 42,902.70 on Wednesday, indicating an increase of 189.93 points or 0.44 per cent.

Unilever recorded the highest price growth having garnered N4.50 to close at N64.60 per share.

Stanbic IBTC trailed with a gain of N2.35 to close at N49.35, while Guaranty Trust Bank gained N1.40 to close at N49 per share.

Guinness added N1.40 to close at N99.50, while Flour Mills appreciated by N1 to close at N37 per share.

In the same vein, the market capitalisation rose by N50 billion to close at N15.480 trillion compared to N15.430 trillion posted on Wednesday.

On the other hand, Presco topped the losers’ chart, dropping by N3.65 to close at N74.35 per share.

Dangote Cement trailed with a loss of N3 to close at N262, while Dangote Sugar lost 30k to close at N22.20 per share.

Union Bank of Nigeria also depreciated by 30k to close at N7.50, while Zenith International Bank was down by 20k to close at N31 per share.

Capital Oil was investors delight, accounting for 308.81 million shares worth N142.05 million.

Japaul Oil and Maritime came second with an exchange of 24.03 million shares valued at N21.38 million, while Multiverse traded 17.63 million shares worth N4.07 million.

Zenith Bank sold 16.63 million shares valued at N506.19 million, while FBN Holdings transacted 16.08 million shares worth N184.11 million.

In all, the volume of shares traded rose by 112.63 per cent as investors bought and sold 574.81 million shares valued at N3.39 billion in 4,340 deals.

NAN reports that this was against the 270.33 million shares worth N5.18 billion traded in 4,799 deals on Wednesday.

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