NSE Index Adds 0.21% As Market Breadth Reads Positive

Transactions on the floor of the Nigerian Stock Exchange, NSE, on Friday, October 28, maintained an upward trend or the third day.

As such, the All Share Index of the bourse increased by 0.21 percent to close at 27,294.21 points on Friday. Investors worth further improved as market capitalisation scooped N19.7 billion to close at N9.375 trillion from N9.355 trillion recorded in the previous trading session.

The sustained upward trajectory was significantly impacted by value appreciated recorded in some oil stocks namely Total, Seplat and Forte Oil that lifted the NSE Oil and Gas Index by 1.5 percent.

Market breadth improved as investors sentiment strengthened with 24 gainers to 11 losers. Caverton Offshore Support Group Plc led the day’s advancers with a 10 percent or 10 kobo growth to close at N1.10 per share.

Eco Transnational Incorporated (ETI) Plc gained 5.00 percent of 50 kobo to close at N10.50 per share and Unity Bank Plc followed with a gain of 4.84 percent or 3 kobo to close at 65 kobo per share.

Fidelity Bank improved by 4.71 percent or 4 kobo to close at 89 kobo per share and Cadbury Plc gathered 4.62 percent or 60 kobo to close at N13.60 per share.

Conversely, Fidson Healthcare Pharmaceuticals Plc led the days declining stocks with a depreciation of 4.51 percent or 6 kobo to close at N1.27 per share.

This was followed by Diamond Bank Plc that lost 4.39 percent or 5 kobo to close at N1.09 per share and Sterling Bank Plc with a decline of 4.21 percent or 4 kobo to close at 91 kobo per share. Dangote Sugar and Livestock Feeds dropped 3.85 and 3.61 percent each to close the day at N6.25 and 80 kobo per share respectively.

Transactions in the shares of Fidelity Bank topped the activity chart with 20.4 million shares valued at N17.5 million. Transcorp Plc followed with 17.8 million shares worth N17.8 million, while Access Bank traded 15.5 million shares valued at N87.8 million.

Meanwhile, the total volume traded dropped by 4 percent to 148.4 million shares, valued at N1.08 billion, and traded in 2,073 deals.