Renewed Interest In NB, Presco, MTN As Investors Gain N1.18tr In Three Days

The Nigerian Stock Exchange (NSE) on Wednesday extended its bullish run for the third consecutive day with investors net worth appreciating further by N324 billion.

Specifically, the market capitalisation inched higher by N324 billion or 1.90 per cent to close at N17.383 trillion from N17. 059 trillion achieved on Tuesday.

The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Nigerian Breweries (NB), Presco Plc, MTN Nigeria Communications (MTNN), Guinness and NASCON Allied Industries.

Consequently, investors garnered N1.18 trillion in just three days of trading, with a growth of N641 billion and N212 billion on Monday and Tuesday respectively.

The All-Share Index increased by 621.26 points, representing a growth of 1.90 per cent, to close at 33, 268.36 against 32, 647.10 recorded on Tuesday.

Accordingly, Month-to-Date and Year-to-Date gains increased to 9.0 per cent and 23.94 per cent, respectively.

An analysis of the price movement chart shows that 51 stocks recorded price growth compared with seven losers.

Fidson Healthcare, Guinness, Neimeth International Pharmaceuticals and Sterling Bank led the gainers’ chart in percentage terms, gaining 10 per cent each, to close at N4.95, N20.90, N2.42 and N2.20 per share, respectively.

GlaxoSmithKline followed with 9.85 per cent to close at N7.25, while Oando rose by 9.82 per cent to close at N3.58 per share.


Conversely, Learn Africa topped the losers’ chart in percentage terms, losing 4.76 per cent to close at N1 per share.

C&I Leasing followed with a loss of 4.65 per cent to close at N4.10, while Stanbic IBTC declined by 4.17 per cent to close at N46 per share.

Linkage Assurance dropped 4.08 per cent to close at 47k, while Red Star Express shed 3.68 per cent to close at N3.40 per share.

In the same vein, the total volume of trade transacted rose by 48.27 per cent as investors bought and sold 858.16 million shares valued at N9.06 billion in 8,142 deals.

This was in contrast with 578.78 million shares worth N7.74 billion achieved in 7,651 deals on Tuesday.

Transactions in the shares of FBN Holdings topped the activity chart with 145.05 million shares valued at N1.08 billion.

Transcorp sold 126.26 million shares worth N141.21 million, while Zenith Bank traded 60.81 million shares valued at N1.52 billion.

United Bank for Africa accounted for 52.87 million shares worth N469.67 million, while Access Bank transacted 44.05 million shares worth N400.98 millionnan.

Post Author: Friday Ekeoba