NSE Market Indices Surges by 0.18 percent

Nigeria's Stock Market Maintains Bullish Trend, Soars By N52bn

Investors sustained the positive trend of the market in mid-week trade on Wednesday as the market indices grew by 0.18 percent.

The All Share Index rose by 46.05 basis points or 0.18 percent to close at 25,460.00 points compared with 25,413.95 basis points on Tuesday.

In the same vein,the market capitalisation rose by 0.18 percent or N3 billion to close trading at N13.28 trillion as against N13.25 trillion recorded on Tuesday.

Market sentiment was also positive as 18 stocks appreciated while 11 declined.

Top on the gainers list was Nigerian breweries which gained N1.00 to close at N40.00, then Stanbic IBTC which gained N1.00 to close at N37.50k and Flourmill gained 20k to close at N19.00.

On the flip side,Glaxosmith led the losers table after dropping 25k to close at N4.85k.It was followed by Vitafoam which lost 21k to close at N5.50k and WAPCO which declined by 20k to close at N19.00.

Transcorp was the toast of investors as it dominated trading with share volume of 26,794 million shares valued at N15.38 million .Regalins was next with a turnover of 20,309 million shares worth N4.55 million.

The sectoral performance was mixed as some indices ended in the positive while others closed in red.

The banking index grew by 0.36%,the consumer goods index rose 0.55% and the Industrial index rose 0.44% while the insurance and the Oil and gas indices declined 1.08% and 0.19% respectively.

Source: VON