NSE Index Gains 1.33% as Bull Regains Control

Trading activities at the Nigerian Stock Exchange, NSE, on Tuesday, September 20, reversed previous day’s losses to close in the Green zone.

This came after  the Central Bank of Nigeria, CBN’s Monetary Policy Committee’s, CBN MPC, decided to leave all macro-economic indicators unchanged.

As such, the All Share Index recorded a gain of 1.33 percent or 370 basis points to close at 28,209.93 points, in contrast to a loss of 0.07 percent or 18.55 points to close at 27,839.93 points.

Conoil Plc led the day’s 15 advancing stocks for the sixth consecutive trading session with a gain of 10.23 percent or N3.59 to close at N38.69 per share.  Oando Plc followed with an increase of 4.91 percent or 25 kobo to close at N5.34 per share, NEM Plc added 4.88 percent or 4 kobo to close at 86 kobo per share, Nigerian Aviation Handling Company Plc (NAHCO) grew 4.50 percent or 15 kobo to close at N3.48 per share and Unity Bank Plc increased by 4.11 percent or 3 kobo to close at 76 kobo per share.

Conversely, AIICO Insurance Plc led the day’s14 declining stocks with a loss of 4.84 percent or 3 kobo to close at 59 kobo per share, UACN Plc lost 3.58 percent or 78 kobo to close at N21 per share, Wema Bank Plc depreciated 3.13 percent or 2 kobo to close at 62 kobo per share, Skye Bank Plc recorded a depreciation of 1.52 percent or 1 kobo to close at 65 kobo per share and Unilever Plc dropped 1.11 percent or 51 kobo to close at N45.50 per share.

The top three traded stocks were: FCMB Plc with the sale of 51.6 million shares worth N51.6 million. WAPIC Insurance Plc came second trading 24 million units of shares amounting to N12 million while Access Bank Plc exchanged 21.3 million shares worth N119 million.

Stock Market activity as measured by the volume and value traded settled at N231.5 million units and N2.5 billion respectively.