New Telegraph

NSE extends 4-day gaining streak by N24bn

Nigerian Stock Exchange yesterday sustained its positive outlook as the overall performance measures, NSE ASI and market capitalisation, rose further by 0.18 per cent to extend four days gaining streak. Market watchers attributed development to sustained confidence as bargain hunters leverage on under value stocks. Consequently, the All-Share Index rose by 48.3 basis points or 0.18 per cent to close at 25,460.00 index points as against 25,413.95 recorded the previous day while market capitalisation of equities appreciated by N24 billion or 0.20 per cent to close higher at N13.282 trillion from N13.258 trillion as market sentiment remained on the green territory.

Meanwhile, a turnover of 181.32 million shares in 3,408 deals was recorded in the day’s trading. The premium sub-sector was the most active (measured by turnover volume); with 40.37 million shares exchanged by investors in 1,044 deals. Volume in the sub-sector was driven by activities in shares of UBA Plc and Zenith Bank Plc.

The insurance sub-sector boosted by activities in shares of Regency Alliance Insurance Plc and Lasaco Assurance Plc followed with a turnover of 31.08 million shares in 183 deals. The number of gainers at the close of trading session was 18 while decliners closed at 11.

Further analysis of the day’s trading showed that Cornerstone Insurance Plc led the gainers’ table with 8.33 per cent to close at 65 kobo per share while Union Dicon Plc followed with 8.00 per cent to close at 27 kobo per share and Regency Alliance Assurance Plc with a gain of 4.35 per cent to close at 24 kobo per share.

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