Transactions on the floor of the Nigerian Stock Exchange, NSE, on Wednesday, September 20, rebounded from a three-day negative run.
As a result, the All Share Index (ASI) added 1.04 percent to close at 35,207.89 points. Similarly, the market capitalisation also jumped by N125 billion to close at N12.137 trillion, improving the average year-to-date return to 30.7 per cent.
The day’s performance was driven by gains recorded the industrial and oil and gas sectors that soared by 2.33 per cent and 1.53 per cent respectively following increases recorded in the share prices of Dangote Cement, Total, Oando and Forte Oil
Market breadth closed flat however with 19 gainers paired against 20 losers.May & Baker led the day’s 19 gainers with 4.92 per cent jump, to close at N2.77 per share. Continental Reinsurance trailed behind with a gain of 4.90 per cent to close at N1.50, while 7up appreciated by 4.87 per cent to close at N90 per share. Linkage Assurance went up by 4.76 per cent to close at 66 kobo, while Oando gained 4.42 per cent to close at N5.90 per share.
Conversely, NPF Microfinance Bank led 20 losers by 5.17 per cent to close at N1.10. Nascon Allied Industries trailed with a loss of 5 per cent, to close at N12.35, while Neimeth shed 4.69 per cent to close at 61 kobo per share. Union Bank which opened is rights issue offer closed the day on a negative noted with a decline of 4.67 per cent to close at N5.72 while AXA Mansard shed by 4.52 per cent to close at N1.90 per share.
Meyer topped the activity chart with 20 million shares valued at N14 million. Access Bank followed with 14.9 million shares worth N144.4 million. Transcorp traded 12.1 million shares valued at N14.2 billion. FCMB traded 11.8 million shares worth N12 million and Fidelity Bank transacted 7.1 million shares valued at N9.4 million.
Total volume traded depreciated by 21 per cent to 137.4 million shares valued at N1.13 billion in 2,977 deals.
