The bulls, upstaged the bears on the trading floor of Nigerian Stock Exchange (NSE) yesterday, following price gains recorded by major blue chip companies, as the All-share index rose by 0.63 per cent.
Specifically, at the close of trading yesterday, the All-share index rose by 155.34 points or 0.63 per cent to close at 24,964.63 compared with 24,809.29 recorded on Wednesday.
Similarly, the market capitalisation inched N54 billion or 0.63 per cent to close at N8.587 trillion against N8.533 trillion achieved on Wednesday.
A breakdown of the price movement chart indicated that Total topped the gainers chart with a gain of N14.13 to close at N154.19 per share.
Nigerian Breweries followed with N4.31 to close at N110.38, while Dangote Cement improved by N2.41 to close at N163.40 per share. Flour Mills added N1 to close at N21 while GT Bank garnered 41 kobo to close at N16.64 per share.
On the other hand, Forte Oil recorded the highest price loss to lead the losers' chart, dropping by N11.87 to close at N225.63 per share. Guinness followed with a loss of N4 to close at N91, while Lafarge Africa dipped N3.67 to close at N70.33 per share.
UACN dropped 80k to close at N18.20 and Okomu Oil shed 50 kobo to close at N29 per share. Also, the volume of shares traded increased by 18.57 per cent with a total of 338.34 million shares valued at N1.99 billion exchanged in 3,428 deals. This was against the 285.34 million shares worth N1.35 billion traded in 3,083 deals on Wednesday.
The banking stocks drove the turnover with FBN Holdings emerging the most traded, accounting for 171.92 million shares valued at N634.94 million. Access Bank followed with an exchange of 24 million shares worth N99.29 million. UBA sold 21.27 million shares valued at N73.31 million.
GT Bank traded 13.46 million shares worth N224.41 million and Fidelity Bank accounted for 12.72 million shares valued at N14.88 million.
Source:© Copyright Guardian Online
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