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NSE market indicators improve 2.97 per cent

By on September 2, 2016

Equity transactions on the Nigerian Stock Exchange closed on positive note for the third consecutive day on Thursday with the market indicators improving by 2.97 percent.

Some analysts attributed the improvement to interim dividends declared by some quoted companies.

The All-Share Index appreciated by 820.89 points or 2.97 per cent to close higher at 28,419.92 from the 27,599.03 achieved on Wednesday.

Similarly, the market capitalisation, which opened at N9.48 trillion, rose by N282 billion to close at N9.76 trillion.

Dangote Cement recorded the highest price gain, growing by N15.11 to close at N191 per share.

Forte Oil followed with N2 uplift to close at N177 per share and CAP garnered N1.48 to close at N31.57 per share.

Guinness increased by N1.14 to close at N94.65 per share, while Nigerian Breweries chalked up 98k to close at N141 per share.

Conversely, Chellaram topped the laggards’ table with a loss of 17k to close at N3.41 per share.

Champion dipped 11k to close at N2.47 per share, while NAHCO dropped N10k to close at N3.4 per share.

Cutix and TtippleG decreased by 7k each to close at N1.5 and N1.46 per share, respectively.

In spite of the high equity transactions, the volume of shares dropped as investors exchanged 229.23 million shares worth N2.12 billion in 3,243 deals.

This was against the 262.61 million shares valued at N4.88 billion exchanged in 3,302 deals on Wednesday.

Diamond Bank was the most active with 62.48 million shares worth N67.86 million traded.

FCMB came second with 47.29 million shares valued at N50.40 million, while Fidelity Bank sold 33.99 million shares worth N31.46 million.

UBA traded 12.24 million shares valued at N53.27 million and Zenith Bank transacted 11.96 million shares worth N178.36 million.

(NAN)