Stocks market regain strength, appreciates by N23bn
From Kayode Ogunwale, Lagos

 

Transaction on the floor of the Nigerian Stock Exchange (NSE) regained its strength as equities appreciated by N23 billion.
The gain recorded during the mid-week trading pegged the year till date growth at 31.96 percent, as the market capitalization closed at N12.330 trillion, while the All Share Index closed at 35,464.34 basis points.
However, market activities turned downward as both volume and value declined. The market experienced 67.90 percent incline in terms of volume to close at 119 million from 373 million traded from previous session. Value also closed at 1.74 billion from 5.77 billion traded from previous session representing 69.74 percent downturn.
Access Bank Plc, Zenith Bank Plc, Fidelity Bank Plc, FBN Holdings Plc and Oando Plc topped the activities chart in terms of volume while Zenith Bank Plc, Nigerian Breweries Plc, Nestle Nigeria Plc, Access Bank Plc and Total Nigeria Plc topped the value’s chart to contribute majorly to today’s market worth.
The NSE All Share Index with all other sector indices swayed into green zone save for NSE Oil & Gas Index as pressure mounts on oil & gas stocks to offload gains so far.
Thanks to big capitalized stocks in consumer goods sector as gain experienced by the equities market today was triggered by positive price change in Unilever Nigeria Plc, Nestle Nigeria Plc, Dangote Sugar Plc and Cadbury Nigeria Plc.
The market breadth tightened as ratio stood at 0.76 with 16 gainers to 21 losers.
Nestle Nigeria Plc topped the gainers chart with N39.80 kobo gain to close at N1,190.00 kobo, Unilever Nigeria Plc with N2.00 kobo to close at N44.00 kobo per share from N42.00 kobo and Glaxosmithkline recorded a gain of N0.40 kobo to close at N21.40 kobo per share.
On the other hand, Presco Plc loss N3.19 kobo per share from N63.99 kobo it opened to close at N60.80 kobo, it was followed by Stanbic IBTC Holding Plc with N1.19 kobo to close at N40.01 kobo and Flour Mills of Nigeria Plc with a loss of N1.05 kobo to close at N26.50 kobo per share.