Economy & Finance, Emerging Market & Stock, Investment & Loans

Stocks gain N135bn as Nigeria turns 55

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The equities segment of the Nigerian Stock Exchange closed on a positive note on Wednesday with the market capitalisation of the listed equities rising by N135bn or 1.27 per cent to close at N10.729tn.

Similarly, the All-Share Index appreciated by 392.77 basis points or 1.27 per cent to 31,217.77 basis points, significantly higher than the 0.2 per cent appreciation it recorded on Tuesday to close at 30,825.00 basis points.

A review of the ’s sectoral indices showed that the Industrial Index outperformed its peers, rising by 2.55 per cent from 2,173.51 basis points to 2,228.96 basis points.

The NSE Consumer Goods Index also appreciated by a 0.34 per cent to close at 807.30 basis points.

However, the NSE Banking Index declined by 0.54 per cent from 320.87 basis points to 319.14 basis points, while the NSE Oil and Gas Index and the NSE Insurance Index declined by 0.4 per cent and 0.14 per cent to close at 343.42 basis points and 139.11 basis points, respectively.

In all, 416.970 million shares valued at N5.237bn were exchanged by investors in 3,603 deals on Wednesday with 22 appreciating and 26 declining.

Honeywell Flour Mills Plc topped the gainers’ table, rising by 9.84 per cent or 24 kobo to close at N2.68 per share.

It was followed by Vono Products Plc, which gained 6.74 per cent or six kobo to close at 95 kobo per share.

University Press Plc rose by 4.95 per cent or 27 kobo to close at N5.73 per share, while UAC Property Development Company Plc advanced by 4.88 per cent or 38 kobo to close at N8.17 per share.

NPF Microfinance Bank Plc and Dangote Cement Plc rose by 4.85 per cent (five kobo) and 4.65 per cent (N8) to close at N1.08 and N179.99 per share, respectively.

Red Star Express Plc, however, topped the losers’ table, shedding five per cent or 22 kobo to close at N4.18 per share.

Portland Paints and Products Plc was down by 4.87 per cent or 21 kobo to close at N4.10 per share, while Trans-nationwide Express Plc and Paints and Coatings Manufacturers Plc declined by 4.72 per cent and 4.62 per cent to close at N1.21 and N1.24 per share, respectively.

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