Stock Value Surges by N400billion in Three Days

The equities segment of the Nigerian Stock Market rallied in the Green Zone for the fifth consecutive day on Wednesday, March 2, with N400 billion gains since beginning of the week.

Equities value on the bourse gained N116 billion on Monday rose by N93 billion on Tuesday and closed yesterday with additional N191 billion.

Market turnover closed positive as volume moved up by 72.21 per cent against 65.81 per cent decline recorded in the previous session. Zenith Bank Plc, UBA Plc and United Capital Plc were the most active to boost market turnover. Guaranty Trust Bank Plc and Zenith Bank Plc topped market value list.

Market breadth closed positive as Dangote Cement Plc led 21gainers against 15 losers topped by Forte Oil Plc at the end of the day which was an improved performance when compared with previous outlook.

Top on gainers’ log was Dangote Cement Plc with a gain of N11.17 kobo to close at N160.00 kobo, followed by Zenith Bank Plc with N0.55 kobo to close at N11.63 kobo, Ecobank Transnational Incorporated Plc with N0.43 kobo per share to close at N18.01 kobo and Lafarge Africa Plc with N0.35 kobo to close at N82.00 kobo per share.

On the other hand Forte Oil Plc topped losers chart with N15.43 kobo to close at N293.23 kobo, Total Nigeria Plc with N7.25 kobo to close at N137.75 kobo per share, Unilever Nigeria Plc with N1.00 kobo loss to close at N27.00 kobo per share and Stanbic IBTC Plc with N0.45 kobo loss per share to close at N14.15 kobo.