Stock Market Reverses Intense Bear Hold With 0.08% Gain

Nigerian Stock Exchange, NSE, on Thursday, March 17, reversed a three day downward trajectory with a marginal increase of 0.08 per cent.

The All-Share Index jumped by 21.55 points to close at 25,679.03 points from 25,657.48 points achieved on Wednesday.

Likewise, market capitalisation which opened at N8.83 trillion rose by N8 billion to close at N8.83 trillion.

Nigerian Breweries recorded the highest price gain to lead the gainers’ table, appreciating by N3.95 to close at N100 per share.

Dangote Cement followed with N1 gain to close at N165 per share, while NAHCO garnered 9k to close at N4 per share.

UBA inched 7k to close at N3.67 per share, while Fidelity Bank appreciated by 5k to close at N1.23 per share.

Conversely, Guinness topped the losers’ chart, dropping by N1.51 to close at N107.99 per share.

Breakdown of the losers showed that PZ Industries lost 96k to close at N24.04 per share, while ETI dipped 45k to close at N15 per share.

Berger Paints shed 41k to close at N9.01 per share and National Salt dropped 40k to close at N7.60 per share.

Also, the volume of shares traded closed higher with an exchange of 6.87 billion shares valued at N7.68 billion transacted in 3,632 deals.

NAN reports that this was against 4.34 billion shares worth N4.69 billion traded in 4,125 deals on Wednesday.

Wema Bank was investors’ delight with a total of 6.67 billion shares worth N6 billion.

It was trailed by FBN Holdings which accounted for 44.67 million shares valued at N161.82 million, while Zenith Bank sold 31.74 million shares worth N391. 97million.

UBA exchanged 21.62 million shares valued N77.27 million while Access Bank traded 18.79 million shares worth N79.27 million. (NAN)