Imported User:
The market indicators of the Nigerian Stock Exchange (NSE) rose marginally on Wednesday by 0.46 per cent after three days of persistent slide.
The News Agency of Nigeria (NAN) reports that the market capitalisation appreciated by N33 billion to close at N7.183 trillion against N7.150 trillion recorded on Tuesday.
Also, the All-Shares Index, which opened at 22,422.43, increased by 102.23 points to close at 22,524.66 as a result of price gains by some blue chips.
Analysts attributed the rebound to low prices of equities as many stocks were said to be trading below their intrinsic values.
Despite the appreciation of the market indicators, the volume of shares traded dropped by 42 per cent as 260.26 million shares worth N2.42 billion were traded in 4,325 deals.
This was in contrast to the 449.21 million shares valued at N4.13 billion traded in 4,428 deals on Tuesday.
The financial services sector was the most active, accounting for 186.50 million shares worth N1.69 billion exchanged in 2,335 deals.
The consumer goods sector came second with a total of 47.12 million shares valued at N578.10 million traded in 1,142 deals.
GTBank was the most active stock as investors exchanged 51.79 million of the shares worth N832.29 million in 516 deals.
Access followed with 28.05 million shares valued at N187.71 million traded in 204 deals while FBN sold 22.88 million shares worth N247.04 million in 502 deals.
NAN reports that Dangote Cement led the price gainers with N2.69 to close at N112 per share.
Cadbury trailed with 78k to close at N16.48 per share, while Presco chalked up 75k to close at N15.79 per share.
Forte Oil gained 54k to close at N11.34 per share, while Berger gained 45k to close at N9.45 per share.
On the other hand, NewGold topped the price losers’ chart, losing N29 to close at N2, 379 per unit.
OkomuOil lost N1.71 to close at N32.49 per share, while Lafarge Wapco dipped by 95k to close at N43.99 per share.
Flour mills lost 63k to close at N61.37 per share while ETI lost 35k to close at N11.40 per share.
