Business

NSE sustains bullish run, hit 36,000 mark

Activities on the Nigerian Stock Exchange (NSE) for the third consecutive day on Wednesday sustained bullish run with the All-Share rising by 4.88 per cent to cross the 36,000 mark.

The News Agency of Nigeria (NAN) reports that the index inched 1,675.30 points or 4.88 per cent to close at 36,740.77 compared with 35,065.47 posted on Tuesday.

Similarly, the market capitalisation rose by N577 billion or 4.77 per cent to close at N12.662 trillion against N12.085 trillion achieved on Tuesday following gains by some highly capitalised equities.

A breakdown of the price movement table indicated that Dangote Cement led the gainers table, growing by N11.50 to close at N245 per share.

It was followed by Total with a gain of N11.01 to close at N268 and Nigeria Breweries appreciated by N7.90 to close at N165.90 per share.

Presco increased by N4.45 to close at N68.50, while Okomu Oil gained N3.67 to close at N70.87 per share.

On the other hand, Mobil topped the losers’ chart, declining by N1.50 to close at N253 per share.

The United Bank for Africa (UBA) trailed with a loss of 33k to close at N10.08 and Union Bank of Nigeria (UBN) was down by 26k to close at N5.43 per share.

Also, an analysis of the activity chart indicated that FBN Holdings emerged the most traded equity, accounting for 42.16 million shares worth N257.92 million.

It was trailed by UBA followed with an exchange of 33.94 million shares valued at N345.81 million and Zenith Bank sold 33.29 million shares worth N838.35 million.

Access Bank transacted 30.86 million shares worth N324.38 million, while Fidelity Bank sold 28.87 million shares valued at N39.29 million.

In all, the volume of shares traded closed higher as investors bought and sold 335.34 million shares worth N4.64 billion achieved in 5,385 deals.

NAN reports that this was in contrast with 288.58 million shares valued at N2.46 billion exchanged in 2,578 deals on Tuesday. (NAN)

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