Nigeria’s Bourse Records Marginal Growth

The Nigerian Stock Exchange (NSE) recorded marginal growth on Tuesday, appreciating by 0.02 per cent on renewed bargain hunting to halt downward posture of four consecutive trading sessions.

Specifically, the All-Share Index increased by 6.55 points or 0.02 per cent to close at 28,344.04 compared with 28,337.49 posted on Monday.

Similarly, the market capitalisation which opened at N14.811 trillion rose by N3 billion or 0.02 oer cent to close at N14.814 trillion.

The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Stanbic IBTC, Nigerian Breweries, International Breweries, Eterna and Cadbury.

Market breadth closed positive with 18 gainers against 15 losers.

A breakdown of the activity chart shows that Eterna led the gainers’ chart in percentage terms, growing by 9.77 per cent to close at N4.38 per share.

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International Breweries followed with 9.56 per cent to close at N4.70, while Regency Alliance Insurance rose by 9.09 per cent to close at 24k per share.

Chams and Courteville Business Solutions appreciated by five per cent each to close at 21k per share each.

Conversely, eTranzact led the losers’ chart in percentage terms, losing 9.79 per cent to close at N2.12 per share.

Royal Exchange trailed with a loss of 7.41 per cent to close at 25k, while Portland Paints and Products Nigeria dipped 6.98 per cent to close at N2 per share.

Custodian Investment lost 4.76 per cent to close at N5, while Africa Prudential shed 3.75 per cent to close at N5.39 per share.

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Also, the total volume of shares transacted grew by 45.14 per cent with an exchange of 535.83 million shares worth N5.019 billion in 4,498 deals.

This was against a total of 369.18 million shares valued at N5.06 billion achieved in 4,750 deals on Monday.

Transactions in the shares of Regency Alliance Insurance topped the activity chart with 245.79 million shares valued at N49.21 million.

Guaranty Trust Bank sold 100.31 million shares worth N3.01 billion, while United Bank for Africa transacted 32.95 million shares valued at N220.01 million.

FBN Holdings traded 15.43 million shares worth N94.98 million, while Transcorp transacted 15.36 million shares valued at N9.88 million.

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