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NSE: Stock Market Gains N87b As Index Rises By 0.98%

By Modupe Gbadeyanka

Transactions resumed on the Nigerian Stock Exchange (NSE) on Tuesday after the market closed last Friday.

There were no trading activities on Monday due to the public holiday declared by the Federal Government to mark Eid-El-Maulud, a day set aside for Muslims to celebrate the birth of Prophet Mohammed.

At the resumption of trading today, the stock market maintained its positive posture with the market indices jerking up by 0.98 percent.

Business Post correspondent reports that at the close of transactions, the Financial Services industry was the investors’ delight as it dominated the most traded chart.

Wema Bank, Diamond Bank, FCMB and GTBank topped the most traded stocks’ table, recording a total of 282.1 million of shares sold at N540.5 million.

Also, a total of 23 equities at the stock market appreciated in value today, while 14 stocks depreciated and 11 equities stayed stagnant.

In the same vein, the all-share index rose by 253.47 points or 0.98 percent to end at 26,071.16 points, while the market capitalisation grew by N87 billion to finish at N8.97 trillion.

Likewise, the amount of money staked on equities at the stock market today was N775 million higher than what was achieved last Friday.

While investors staked N1.64 billion on 108.5 million in 2,512 deals last Friday, they pumped N2.4 billion on 377 million shares today, which were executed in 2,885 deals.

Business Post correspondent reports further that Seplat recorded the highest price gain to lead the gainers’ chart after appreciating by N34.85k to close at N374.85k per share.

Total Plc trailed after going up by N13.80k to finish at N289.85k per share and Forte Oil went up N10.88k to end at N117.11k per share.

Also, Dangote Cement rose by N2 to close at N162 per share, while GTBank improved by 46k to finish at N23.80k per share.

But at the other end, Mobil topped the losers’ chart with a loss of N5 to close at N300 per share, while Guinness followed after dropping N2.30k to finish at N75.60k per share.

Similarly, 7up fell by N1 to close at N129 per share, Union Bank declined by 21k to end at N4.26k per share and Zenith Bank slumped by 16k to close at NN14.34k 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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