NSE index edges higher as 26 stocks rise

The Nigerian Stock Exchange closed on a positive note for the third straight session this week on Wednesday with the NSE All-Share Index rising marginally by 13.8 basis points or 0.05 per cent to close at 30,614.93 basis points.

The market capitalisation of the listed equities also rose by 0.05 per cent or N5bn to close at N10.215tn, compared to the N111bn or 1.1 per cent appreciation that lifted it to N10.210tn in the previous session.

Wednesday’s performance means the equities segment of the NSE has closed higher for 12 out of 13 straight sessions as investors take position in anticipation of full-year results of companies and react to the slight improvement in crude oil prices.

The performance was, however, not as positive as previous sessions with other market indicators putting in a mixed performance, as 26 stocks recorded price appreciation, while 22 others declined in value.

Apart from the market capitalisation and ASI, three other indices appreciated with four declining and one, the NSE Alternative Securities Market Index, closing unchanged.

For instance, the NSE 30 Index, which tracks the performance of the top 30 stocks on the Exchange, rose marginally by 0.07 per cent to 1,401.95 basis points, while the NSE Banking Index fell by 0.5 per cent to 337.73 basis points.

International Breweries rose by 5.24 per cent or 97 kobo to close at N19.47 per share, emerging the biggest gainer.

Portland Paints and Products Plc rose by 4.95 per cent or 18 kobo to close at N3.82 per share, while Union Bank of Nigeria Plc and Nigerian Aviation Handling Company Plc were up by 4.95 per cent and 4.85 per cent to close at N10.60 and N4.97 per share.

Wema Bank Plc led the losers after it fell by 5.05 per cent or five kobo to close 94 kobo per share; followed by Champion Breweries Plc with a 4.81 per cent or 25 kobo depreciation that saw it close at N4.95 per share.

Airline Services and Logistics Plc declined by 4.74 per cent or nine kobo to close at N1.81 per share, while Mansard Insurance Plc and Deap Capital and Management Trust Plc shed 4.67 per cent and 4.29 per cent to close at N2.86 and 67 kobo per share, respectively.

In all, 381.290 million shares worth N4.906bn were traded in 5,283 deals on Wednesday.

Source: Punchng


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