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Equities Market Recovers As Market Cap Gains N2.6b

By Modupe Gbadeyanka

Activities on the Nigerian Stock Exchange (NSE) ended on a positive note on Wednesday, bouncing back immediately from the loss the market recorded the previous day.

The all-share index improved by 2.57 points or 0.01 percent to close at 25,673.80 points, while the market capitalisation grew by N2.6 billion to end at N8.833 trillion.

Business Post correspondent reports that the volume of shares sold at the market on Wednesday, December 7, 2016, went up compared to what was recorded the previous, however, the value dropped by N413 million.

A total of 255.8 million shares were exchanged on Wednesday for about N2 billion and executed in 2,480 deals as against the 189 million shares traded in 2,894 deals worth N2.4 billion the market achieved on Tuesday.

In addition, 16 equities appreciated on the floor of the stock exchange, while 20 stocks on the other hand depreciated and 10 equities remained unchanged.

The top declining stocks were led by Nigerian Breweries, which fell by N1.49k to close at N142.51k per share and Total, which dropped 83k to finish at N303.61k per share.

Also, Flour Mill depreciated by 69k to end at N18.30k per share, Oando lost 43k to close at N4.13k per share and Transcorp Hotel slumped by 26k to finish at N4.98k per share.

However, Forte Oil led the gainers’ chart after improving by N8.12k to close at N87.42k per share, while Nestle rose by N5 to finish at N810 per share.

In the same vein, Guinness chalked up N2.42k to end at N78.74k per share, First Bank went up by 10k to finish at N3.42k per share and Portland Paints also appreciated by 10k to close at N2.18k per share.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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