NSE Index Up 0.40% on Lingering Bargain-hunting

Stock Exchange Makes Bullish Comeback With N100bn Gain

Transactions on the floor of the Nigerian Stock Exchange, NSE, on Friday, February 2, sustained a positive momentum from the previous trading session.

As such, the All-Share Index (ASI) added 0.40% or 179.81 points to close at 44,639.99 points,bringing the year-to-date return to 16.73 percent. Meanwhile the market capitalisation appreciated by N64.5 billion to finish at N16.019 trillion.

Dangote Cement, led the advancers’ chart after addng N3 to close at N278 per share. It was followed by CCNN, which jumped by 90k to finish at N19.50k per share, and Zenith Bank, which appreciated also by 90k to end at N31.95k per share.

Unilever added 70k to settle at N47.45k per share, while PZ Cussons also grew by 70k to close at N23.10k per share.

On the other side, Nestle sat atop the losers’ table after dropping N25 of its share value to close at N1445 per share.

It was followed by Guinness Nigeria, which lost N3 to finish at N110 per share, and Forte Oil, which went down by N2.50k to end at N48.45k per share. Nigerian Breweries slumped by N2.40k to settle at N144.50k per share, while Lafarge went down by 50k to close at N54 per share.

Financial Services sector led the activity chart with 443.5 million shares traded for N2.6 billion, while the Conglomerates industry followed with 43.7 million equities sold for 112 million.

FCMB was the darling of investors today, exchanging a total of 86.6 million shares worth N262.9 million at the close of market activities.

Skye Bank sold 76 million units worth N108.7 million, while Transcorp transacted 42.6 million equities valued at N98.7 million.

Diamond Bank traded 41 million shares worth N130.6 million at the market on Friday, while FBN Holdings exchanged 30.5 million units for N420.7 million.

At the end of trading, a total of 535.3 million shares worth N3.6 billion were exchanged in 6,054 deals in contrast to the 630.6 million units sold yesterday in 7,079 deals valued at N3.4 billion.