Stock Market Investors Spike Equity Holdings By 48%

stock market
The confidence of equity investors at the Nigerian Stock Market, on Monday, July 25 increased in spite of the sustained downward trajectory.
Volume of business jumped by over 48 per cent yesterday on the floor of the Nigerian Stock Exchange, NSE, even  as the bourse lead indices closed negative.
In the course of the day’s activities, Forte Oil topped the losers’ chart with N18.99 loss to close at N175.91 per share. It was followed by Seplat Petroleum Development with N16.50 to close at N313. 50 and Dangote Cement with N4.50 to close at N175 per share. Guinness lost N1.48 to close at N95, just as Lafarge Africa declined by 41kobo to close at N59.24 per share.
Conversely, Nigerian Breweries gained N6.90 to close at N144.91 per share. Total Nigeria was up N1.50 to close at N181.50, while ETI advanced by 59kobo to close at N12.39 per share. Oando gained 51kobo to close at N5.63 and Zenith Bank grew by 28kobo to close at N15.63 per share.
At the close of business, investors exchanged 378.51 million shares valued at N2.27 billion in 3,519 deals. This was about 48.03 per cent higher than the 255.73 million shares worth N2.11 billion traded on Friday in 3,659 deals.
FBN Holdings emerged the most traded equity, exchanging 114.92 million shares worth N399.52 million. It was followed by Access Bank with a turnover of 48.59 million shares valued at N254.43 million and Skye Bank sold 41.38 million shares worth N32.47 million.
In all, investors staked N136.55 million on 31.37 million shares of United Bank for Africa and Zenith Bank exchanged 27.14 million shares worth N424.69 million.

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