NSE Index Up By 0.27% On Sustained Bull Run

Transactions at the Nigerian Stock Exchange, NSE, continued movement north on Tuesday, August 16 as the  All Share Index leaped by 0.27 percent to close at 27,389.02 points compared to Monday’s growth of 0.27 percent when the ASI closed at 27,316.52 points.

Despite a negative market breadth of 15 gainers to 18 losers, the share prices of Livestock Feeds Plc, Sterling Bank, Total, UBA, Continental Re-insurance Plc rose amongst other banking giants such as Guaranty Trust Bank, Zenith Bank, Skye Bank and Fidelity Bank were mainly responsible for the growth recorded in the NSE ASI, trimming the Year-to-Date (YTD) returns to -4.38 percent.

Livestock Feeds Plc led the day’s top five gainers with an addition of 5.56% or 5 kobo to close at 95 kobo per share, Sterling Bank followed with a 4% or 4 kobo growth to close at N1.04 per share.

Total Oil Nigeria Plc added 3.33% or N8 to close at N248 per share, UBA Plc appreciated by 3.11% or 13 kobo to close at N4.31 per share, and Continental re-insurance Plc gained 3.09% or 3 kobo to close at N1 per share.

On the other side, Champion Breweries Plc led the day’s retreating stocks with a decline of 8.06% or 25 kobo to close at N2.85 per share, Nigeria Police Force Microfinance Bank Plc lost 4.95% or 5 kobo to close at 96 kobo per share, Africa Prudential Registrars Plc fell by 4.94% or 13 kobo to close at N2.50 per share.

Conoil Plc declined by 4.92% or N1.12 to close at N21.65 per share and Presco Plc depreciated by 4.86% or N1.89 to close at N36.96 per share.

The total value of stocks traded on the floors of the bourse yesterday was N2.23 billion, up by 11 percent from N2.00 billion recorded on Monday. The total volume of stocks traded in 3,512 deals was 235.9 million shares in contrast to 213.6 million traded in 3,742 deals in previous session.