The rally in the equities segment of the Nigerian Stock Exchange, continued on Wednesday, with major indices closing positive.
The market capitalisation of the listed equities gained N52bn or 0.6 per cent from N8.286tn on Tuesday, to close at N8.338tn.
Similarly, the NSE’s All-Share Index was up by 164.51 basis points or 0.6 per cent to close at 26,187.61 points, up from 26,023.10 points recorded the previous day.
The NSE-30 Index rose by 0.7 per cent or 8.06 basis points from 1,225.31 basis points to close at 1,233.37 points, while the consumer goods index gained 2.5 per cent or 55.57 basis points to close at 2,285.77 points.
A total of 42 stocks recorded price appreciation, while 10 stocks lost.
DN Meyer Plc gained the highest, rising by 9.48 per cent or 11 kobo to close at N1.27 per share.
Fidson Plc, followed with a gain of 6.60 per cent or seven kobo to close at N1.13 per share.
Red Star Express Plc also gained 5.30 per cent or 16 kobo to close at N3.18 per share, while Neimeth International Pharmaceutical Plc and Transnational Incorporated Plc gained five per cent each to close at N1.26 per share each.
National Salt Company of Nigeria Plc, Nestle Plc, Guinness Nigeria Plc gained five per cent each to close at N6.09, N601.65 and N277.20 per share respectively.
On the other hand, Guaranty Trust Bank Plc recorded the highest loss for the day, shedding 4.15 per cent or 87 kobo to close at N20.11 per share.
RT Briscoe Plc lost 3.9 per cent or seven kobo to close at N1.70 kobo per share, while Cement Company of Northern Nigeria Plc and Eterna Plc fell by three per cent each to close at N4.75 and N2.23 per share in that order.
The banking sub-sector maintained its lead on the activity chart, as trading in the sub-sector accounted for 47 per cent of total volume traded on Wednesday.
In the sub-sector, investors exchanged 152.68 million shares, worth N1.471bn in 2,629 deals.
Turnover in the sub-sector was driven by trading in the shares of GTBank, First Bank of Nigeria Plc and United Bank for Africa Plc.
In all, investors staked N2.422bn on 326.07 million shares, in 5,301 transactions.
Source: Punch (written by Udeme Ekwere)