NSE Market Increases By 0.38% To Hit 38,000 Mark, Amid Bullish Run

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 by OLUSHOLA BELLO,  

Activities on the equities market on the Nigerian Stock Exchange (NSE) for the seventh consecutive day, yesterday sustained bullish run with the All-Share Index (ASI) rising by 0.38 per cent to cross the 38,000 mark.

In summary, the All Share Index gained 144.46 absolute points, representing a loss of 0.38 per cent to close at 38,144.02 points. Similarly, the market capitalisation increased by N50 billion,  to close at N13.147 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Nestle, Guinness, Presco, PZ Industries and Dangote Flour.

Market breadth was negative, with 21 gainers versus 23 losers. Guinness recorded the highest price gain of 10.23 per cent, to close at N87.50 per share. Jaiz Bank followed with a gain of 10 per cent to close at 88 kobo, while Nahco gained 9.97 per cent,  to close at N3.75 per share.

Dangote Flour appreciated  by 9.55 per cent to close at N7, while Vitafoam went up by 5.02 per cent to close at N2.93 per share.

On the other hand, Champion Breweries  led the losers’ chart by 9.32 per cent, to close at N2.53 per share. Livestock followed with a loss of five per cent to close at 95 kobo, while Conoil declined by 4.97 per cent to close at N32.86 per share.

Continental Reinsurance depreciated by 4.51 per cent to close at N1.27 and Eterna declined by 4.50 per cent to close at N3.61 per share.

The total volume traded increased by 50.6 per cent to 328.65 million shares, worth N6.10 billion, and traded in 4,983 deals.