Trading on NSE sustains bullish trend

Activities on the Nigerian Stock Exchange (NSE) today maintained an upward trend with the All-Share Index crossing the 26,000 mark.

Reports shows that the market capitalisation crossed the N9 trillion mark.

The index appreciated by 151.61 points or 0.58 per cent to close at 26,116.79, against 25,965.18 achieved on Tuesday.

Also, the market capitalisation inched N53 billion or 0.59 per cent to close at N9.027 trillion against N8.974 trillion posted on Tuesday.

A breakdown of the price movement table indicated that Unilever led the gainers” table, growing by N1.69 to close at N33.50 per share.

Forte Oil followed with a gain of N1 to close at N44 and Guinness gained 99k to close at N61 per share.

UACN appreciated by 65k to close at N14.40, while Ashaka Cement increased by 52k to close at N10.90 per share.

On the other hand, Total topped the losers’ chart, dropping by N10 to close at N255 per share.

7UP trailed with a loss of N4.75 to close at N90.25 and NASCON dropped by 42k to close at N8.05 per share.

UAC Property was down by 5k to close at N1.75, while Continental Reinsurance declined by 4k to close at N1.07 per share.

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Zenith Bank was the toast of investors with an exchange of 41.88 million shares worth N652.18 million.

It was trailed by Guaranty Trust Bank, having accounted for 37.75 million shares valued at N1.01 billion and United Bank for Africa sold 34.03 million shares worth N205.21 million.

Transcorp traded 18.26 million shares valued at N16.50 million, while FBN Holdings sold 16.39 million shares worth N56.98 million.

In all, the volume of trade rose by 38.46 per cent as investors bought and sold 264.49 million shares valued at N2.89 billion transacted in 3,958 deals.

This was in contrast with 191.02 million shares worth N2.13 billion exchanged in 3,392 deals on Tuesday.