Thursday, July 27

Nigerian Stock Market Soars Highest For The First Time Since April, 2015, Stocks Gain N719Bn In Two Days


The Nigerian Stock Exchange (NSE) performance indicators have continued on an upward trajectory with the All Share Index (ASI) posting a growth of 2.54 percent on Tuesday to cross the 35,000 points.

The ASI specifically increased by 880.48 points to close at 35,533 points against 34,652.52 achieved on Monday, extending rally to the 14th consecutive session.

The market capitalization also gained N303 billion and close the day at N12.246 trillion.

UBA emerged the day’s top gainer with a growth of 10.16 percent to close at N10.41 per share,
May&Baker rose 10 percent to close at 3.19 per share and Forte Oil grew by 9.39 percent to close at N62.90 per share.

The day ended with Unity Bank topping the losers chart. The stock dropped 8.96 percent to close at 61 kobo per share while Morison Industries and First Aluminum followed with a loss of 8.92 per cent and 5 percent to close at N1.43 and 57 kobo respectively.

The day ended with a lower volume of shares traded in 2,578 deals. Volume traded dropped to 288.6 million from 293.8 million exchanged in 3,712 deals on Monday. Total value traded also dropped to N2.5 billion in contrast to N3.9 traded in previous session.

UBA topped trading activity with the sale of 118.5 million shares worth N1.2 billion. Transcorp followed with the sale of 38.3 million shares worth N63.2 million while Fidelity Bank traded 25.6 million shares for N33million.

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