NSE: Market sustains momentum, advances by N24 billion

The Nigerian bourse closed Wednesday’s trade on an upbeat note, climbing up by N23.583 billion and extending the gains recorded in earlier trading sessions this week.

Gains garnered by the likes of Mobil, Flour Mills, BOC Gases, Seplat and Ardova were instrumental in the day’s positive performance.

Across the sectorial indices, the Insurance Index came top and outperformed the other four indices after climbing 4.12 per cent up to 222.23 index points.

The All Share Index (ASI) edged up by 0.11 per cent to 40,341.05 index points. Market Capitalisation jumped to N21.094 trillion at the end of trade.

Year to date, the index is up by 0.19 per cent.

Veritas Kapital led advancers, appreciating by 10 per cent to close at N0.22. Sovereign Insurance added 7.69 per cent to end today’s trade at N0.42. BOC Gases went up 9.92 per cent to N12.52. Champion Breweries advanced to N1.12, notching up 9.80 per cent. NCR completed the top 5, climbing 9.77 per cent to close at N2.36.

Academy was the worst-performing stock, declining 10 per cent to close at N0.27. Chelllaram shed 9.96 per cent to close at N2.26. Lasaco fell to N1.76, losing 9.74 per cent. Consolidated Hallmark dipped to N0.31, recording 8.82 per cent depreciation. Cutix closed at N2.03, going down by 7.73 per cent.

A total of 468.146 million shares estimated at N6.963 billion were traded Wednesday in 3,377 deals.

Zenith Bank was the most active stock with 45.773 million units of its shares worth N1.186 billion traded in 486 deals. A total of 40.725 million units of Lasaco’s shares, priced at N17.024 million, exchanged hands in 65 transactions. UBA had 31.816 million shares valued at N283.105 million traded in 233 deals. Japaul Gold traded 20.975 million shares estimated at N26.638 million in 77 transactions. Sovereign Insurance traded 19.063 million shares valued at N4.194 million in 8 deals.


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