NSE Index Surges by 0.80% As Bull Makes Major Recovery

Sentiments in the market strengthened and this was reflected in all other index as they closed for the day on a positive note except the NSE Insurance index which dropped by 0.4 percent on losses incurred by Continental Reinsurance Plc which dropped by 3.7 percent or 4 kobo to close at N1.04 per share.

Market Capitalisation thus grew by N74.0 billion to close at N9.4 trillion against a loss of N31 billion recorded on Monday’s session to close at N9.278 trillion.

The day’s trading activities recorded 25 gainers led by Vitafoam which added 6.98 percent or 30 kobo to close at N4.60 per share, Nigerian Aviation Handling Company (NAHCO) followed with an increase of 4.82 percent or 22 kobo to close at N4.78 per share, while Fidson Health Care Plc. grew by 4.76 percent to close at 10 kobo per share. Nigerian Police Force Micro Finance Bank joined the top five advancers with a gain of 4.59 percent or 5 kobo to close at N1.14 per share and DN Meyer appreciated by 3.80 percent or 3 kobo to close at 82 kobo per share.

Topping the day’s 18 losers were Learn Africa Plc which fell 9.41 percent or 8 kobo to close at 77 kobo per share, CAP Plc lost 5 percent or N2 to close at N38 per share, Cadbury Plc decreased 4.99 percent or 86 kobo to close at N16.38 per share.

Union Dicon dropped 4.95 percent or 62 kobo to close at N11.90 per share, while Neimeth Pharmaceuticals declined by 4.21 percent or 4 kobo to close at 91 kobo per share.

At the end of the day’s trading, investors exchanged a total of 274.2 million shares worth N1.54 billion in 4,160 deals compared with 316.7 million shares valued at N1.9 billion traded in 3,924 deals previously.