Investors new confidence boost NSE index

Transactions on the floor of the Nigerian Stock Exchange, NSE swung northwards driving up market value as a result of gains recorded by blue-chip stocks like Dangote Cement, Mobil, Guinness Nigeria, Conoil, and Nigerian Breweries amongst others.

As such, the All-Share Index surged by 2.38 percent or 926.39 points to finish at 39,849.65 points, crossing the 39,000 mark again today.

Similarly, market capitalisation soared by N329.7 billion to settle at N14.181 trillion, crossing the N14 trillion milestones for the first time in many months.

The price movement chart showed 40 appreciating equities against nine equities sliding, with Dangote Cement sitting atop the gainers’ chart, increasing by N11.15k to settle at N234.26k per share.

It was trailed by Mobil, which grew by N8.50k to finish at N178.50k per share, and Guinness Nigeria, which rose by N4.40k to end at N100 per share.

Conoil advanced by N3.1k to settle at N32.41k per share, while Nigerian Breweries improved by N1.90k to close at N140 per share.

Conversely, Vitafoam, led the day’s laggards, recording a loss of N128 million in the financial year, suffered a loss of 16k to close at N3.9k per share. It was followed by Dangote Sugar, which declined by 15k to finish at N21.70k per share, and C&I Leasing, which fell by 7k to close at N1.36k per share.

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Africa Prudential Registrars shed 5k today to settle at N4.48k per share, while University Press slumped by 4k to finish at N2.55k per share.

On the activity chart, Transcorp was the most active stock in terms of volume, transacting a total of 115.2 million shares worth N203.3 million. Nigerian Breweries sold 88.3 million shares for N12.4 billion, and Diamond Bank traded 82.7 million shares valued at N162.3 million.

FCMB exchanged 41.2 million shares worth N80.1 million, while FBN Holdings traded 40.5 million shares valued at N379 million.

At the close of trading, a total of 604.5 million shares worth N16.2 billion exchanged hands in 5,769 deals in contrast with the 753.3 million shares valued at N11 billion transacted by investors in the previous trading session in 7,253 deals.