Ecobank leads as NSE closes week on positive note

The Nigerian Stock Exchange (NSE) received a serious boost as the market closed on a positive note this week with the All-Share Index improving by 0.62%, closing at 27,800.17 basis points against the 26,925.29 it recorded last week.

The 40 equities appreciated in price during the week, higher than 15 equities that appreciated the previous week. 25 equities depreciated in price this week, as against 34 equities in the previous week, while 101 equities remained unchanged this week, lower than 119 equities recorded in the preceding week.

Ecobank Transnational Incorporated was the best-performing stock this week. The stock opened at N6.00 and closed at N8.00, up N2.00 or 33.3 per cent. Year to date, the stock is up 42.9%.

Oando Plc opened at N3.35 and closed at N4.05, up N0.70 or 20.9 per cent. Year to date, the stock is up 19%. Fidelity Bank Plc opened at N1.40 and closed at N1.68, up N0.28 or 20%. Year to date, the stock is up 17.2%.

Others included UACN Plc which opened at N4.50 and closed at N5.35, up N0.85 or 18.9 per cent while Law Union & Rock Insurance Plc opened at N0.33 and closed at N0.39, up N0.06 or 18.2%.

Okomu Oil Palm Plc was the worst-performing stock this week, shedding 18.1% and closing by N40.15. Lasaco Assurance Plc opened the week at N0.33 and closed at N0.29, down N0.04 or 12.1%.

Continental Reinsurance Plc opened the week at N1.45 and closed at N1.30, down N0.15 or 10.3%, while Tripple Gee and Company Plc opened the week at N0.70 and closed at N0.63, down N0.07 or 10%.

Other losers are MRS Oil Nigeria Plc which opened the week at N20.85 and closed at N18.80, down N2.05 or 9.8%, and Cadbury Nigeria Plc which opened the week at N10.30 and closed at N9.30, down N1.00 or 9.7%.

Unity Bank Plc and Linkage Assurance Plc are at the bottom with their stocks opening at N0.69, N0.52 respectively and closing at N0.63 and N0.48