News Equities sustain rally with N130 billion gains


- Advertisment -

Equities sustain rally with N130 billion gains

News Equities sustain rally with N130 billion gains

The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigerian equities continued their rally on Wednesday as increasing bargain-hunting left investors with net capital gains of N130 billion, bringing gains in the past two trading sessions to N266 billion.

With more than seven advancers to every decliner, the overall market position was exceedingly positive. Average return stood at 1.03 per cent, moderating the negative average year-to-date return to -8.9 per cent.

The All Share Index (ASI)- the common value-based index that tracks share prices at the Nigerian Stock Exchange (NSE) rose from its opening index of 24,202.87 points to close at 24,452.23 points. Aggregate market value of all quoted equities also increased from its opening value of N12.613 trillion to close at N12.743 trillion.

With 36 gainers to five losers, all sectoral indices expectedly closed positive. The NSE Banking Index led with a gain of 2.8 per cent. The NSE Insurance Index appreciated by 1.7 per cent. The NSE Industrial Goods Index rose by 1.3 per cent while the NSE Oil and Gas Index and NSE Consumer Goods Index inched up by 0.1 per cent apiece.

The momentum of activities also improved a total turnover rose by 28.6 per cent to 436.84 million shares valued at N5.41 billion in 5,195 deals. Zenith Bank was the most active stock with a turnover of 75.07 million shares worth N1.22 billion.

“We expect profit taking in the next trading session,” Afrinvest Securities stated.

Dangote Cement led the gainers with a gain of N2.50 to close at N150. Zenith Bank followed with a gain of 65 kobo to close at N16.50 while BUA Cement chalked up 60 kobo to close at N32.40. Lafarge Africa recorded the highest loss of 30 kobo to close at N11 per share.


Please enter your comment!
Please enter your name here

Recent Updates

Larry Gaaga x Vector – Decide

Larry Gaaga and Vector teams up to serve us a self motivational song “Decide”. (Larry Gaaga x Vector – “Decide“)...

Slowdog – Njo ft. Zoro x Deejay J Masta

Slowdog teams up with Zoro and Deejay J Masta for “Njo”. Indigenous rapper, Slowdog comes through with another banging joint...

Niniola – Pocket (Bitter Sweet Riddim)

Nini De! Niniola is here with a new tune titled “Pocket”, A Bitter Sweet Riddim. Niniola serves us with a...

Infinity (Olorioko) – Abiyamo

Infinity returns with another impressive worship single “Abiamo”, for us to call on God for Miracle & Blessings. Gospel musical...
- Advertisement -

Video: Rayvanny x Phyno – Slow

Another East and West Collaboration, Rayvanny and Phyno linked up for “Slow”. WGB releases Rayvanny‘s new single and music video...

Naira Marley – Bad Influence (Prod. Rexxie)

Naira Marley returns with a new track “Bad Influence” and its different from his regular street sound. Rave of the...
- Advertisement -

You might also likeRELATED
Recommended to you