Market Watch: indices grow by 0.54%


Market Watch: indices grow by 0.54%

 Activities on the Nigerian Stock Exchange (NSE) on Thursday remained on the upbeat trend following price gains by some blue chips.The News Agency of Nigeria (NAN) reports that Conoil recorded the highest price gain of N4.53 to close at N49.15 per share.

 It was followed by CAP, which gained N4.05 to close at N46.87, while Dangote Cement grew by N3.50 to close at N190 per share.MRS Oil appreciated by N3.30 to close at N37.56, while UAC Property rose by 78k to close at N18.25 per share.

 Consequently, the NSE All-Share improved by 203.09 basis points or 0.54 per cent to close at 37,611.65 in contrast to the 37,408.56 achieved on Wednesday.

 Also, the market capitalisation, which opened at N11.952 trillion, gained N65 billion or 0.54 per cent to close higher at N12.017 trillion.On the contrary, Guinness topped the laggards’ table with a loss of N4 to close at N241 per share.

 Northern Nigeria Flour Mills lost N1.28 to close at N24.37, while UACN dropped N1.01 to close at N64.99 per share.

 WAPIC Insurance sold 22.21 million shares worth N21.32 million, while UBA traded 20.01 million sharesPresco and PZ Cussons dipped by N1 each to close at N34.50 and N39 per share, respectively.Market analysts attributed the growth to attractive third quarter results released by listed firms on the NSE.In all, a total of 329.24 million shares worth N2.93 million were traded by investors in 5,044 deals.This was against the 358.98 million shares valuedat  N4.16 billion traded in 5,253 deals on Wednesday, a decline by 8.28 per cent.

Transcorp, for the second consecutive day, remained investors’ delight, accounting for 91.45 million shares worth N171.10 million.It was trailed by Unity Kapital Assurance, which sold 27.56 million shares valued at N14.58 million, while investors staked N61.84 million on 26.54 million shares of Sterling Bank.

WAPIC Insurance sold 22.21 million shares worth N21.32 million, while UBA traded 20.01 million shares valued at N158.88 million.

 Market Watch: indices grow by 0.54

Source: (NAN)


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Eze Chucks is an experienced media practitioner. He has worked for several news organisation.He has pioneered many online news website as an editor . He holds a B.Sc Economics degree and a masters degree