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BUSINESS & ECONOMYCapital MarketCOVERNEWSLETTER

NSE index Hits Record High of 3.78% As Bullish Sentiment Thrives

Equities Trading at the Nigerian Stock Exchange, NSE, on Wednesday, May 25, sustained a positive run as the  All Share Index hit a record high with 3.78 percent gain or 1,029.11 points to close at 28,260.61 points compared with an increase of 0.80 percent or 215.53 points to close at 27,231.50 points.

Similarly, Market Capitalization jumped by N353.4 billion to close at N9.7 trillion compared with N74.0 billion gained previously to close at N9.4 trillion.

All other market index also finished the day on a positive note except the NSE Oil and Gas index which dropped by 0.12 percent on losses incurred Mobil Oil Plc which dropped by 5 percent or N8.75 to close at N166.25 per share and Forte Oil which lost N2.95 to close at N6.26 per share.

Leading the day’s 48 gainers were UBA Plc an increase of 10.18% or 45 kobo to close at N4.87 per share, followed by Oando Plc which added 10.13% or 61 kobo to close at N6.63 per share, while Zenith Bank Plc appreciated by 10.07% or N1.51 to close at N16.51 per share. Diamond Bank Plc and FCMB garnered 19 and 14 kobo each to close at N2.11 and N1.56 per share.

On the other hand Mobil topped the day’s 10 decliners with a loss of 5% or N8.75 to close at N166.25 per share. Union Dicon fell by 4.96% or 59 kobo to close at N11.31 per share, Glaxosmithkline lost 4.87% or N1.05 to close at N20.49 per share, Ikeja Hotel dropped 4.48% or 9 kobo to close at N1.92 per share while Forte Oil declined by 2.95% or N6.26 to close at N206.21 per share.

Top three traders for the day in volume terms were FBN Holdings which exchanged 73.9 million shares worth N294.2 million, Zenith Bank which traded 48.2 million shares worth N790.2 million shares and Skye Bank which sold 45.9 million shares valued at N55.9 million.

At the end of the day’s trading, investors had exchanged a total of 474.4 million shares valued at N3.5 billion in 5,260 deals compared to 274.2 million shares worth N1.54 billion exchanged in 4,160 deals previously.

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