Bull Flaunts Dominance As NSE Index Opens New Trading Month With 3.2% Gain

Equities trading on the floor of the Nigerian Stock Exchange, NSE, kicked off the month of May, on Tuesday, May 3, with a Northward movement as benchmark indices rose 3.2 percent to close at 25,865.50 basis points (bpts) compared with an increase of 0.42 percent to close at 25,062.41 points last Friday.

A total of 220.1 million shares valued at N1.5 billion were exchanged in 3,474 deals bringing the market capitalization to close at N8.9 trillion.

Access Bank Plc led the most active stocks for the day, trading a total of 47.4 million shares worth N200.5 million, FCMB came second with a sale of 27.8 million shares worth N26.4 million, FBN Holdings followed with an exchange of 25 million valued at N89 million.

Zenith Bank and Fidelity Bank also traded 19.7 million shares and 19 million shares worth N255.5 million and N20.8 million respectively.

Nestle Plc led the day’s 33 gainers advancing by 10.25 per cent or N63.06 to close at N678.32 per share followed by Eterna Plc which added N10 or 23 kobo to close at N2.53 per share while Tiger Branded Consumer Goods Plc gained 8.91 per cent or 27 kobo to close at N3.30 per share.

Dangote Cement Plc appreciated by 5 per cent or N8.17 to close at N171.57 per share. Nigerian Breweries also gained 5 per cent or N5.79 to close at N121.68 per share.

On the other hand, the day’s 12 losers were led by Forte Oil Plc with a loss of 9.75 per cent or N20.89 to close at N193.46 per share Fidelity Bank Plc dropped 5.98 per cent or 7 kobo to close at N1.10 per share as Wema Bank and FCMB followed with a depreciation of 5 per cent each or 4 kobo and 5 kobo respectively to close at 76 kobo and 95 kobo respectively, while Glaxosmithkline Plc dipped 4.97 per cent or N1.12 to close at N21.43 per share.