New Telegraph

NSE halts losing streak with N7bn gain

Activities on the Nigerian Stock Exchange (NSE) closed positive yesterday, reversing twoday negative sentiments following gains recorded by blue chip stocks. The key market performance measures, the NSE All Share Index and market capitalisation, rose by 0.06 per cent to close the trading session positive as market sentiments returned to gaining streaks following positive investors’ sentiments. Consequently, the All-Share Index gained 15.67 basis points or 0.06 per cent to close at 24,130.26 as against 24,114.59 recorded the previous day while the market capitalisation of equities appreciated by N7 billion or 0.06 per cent to close at N12.586 trillion from N12.579 trillion as market sentiment returned on the green zone. Meanwhile, a turnover of 208.21 million shares exchanged in 3,648 deals was recorded in the day’s trading.

The banking sub-sector was the most active (measured by turnover volume); with 93.96 million shares exchanged by investors in 853 deals. Volume in the sub-sector was largely driven by activities in the shares of Sterling Bank Plc and GTBank Plc.

The premium sub-sector boosted by activities in shares of UBA Plc and Zenith Bank Plc followed with a turnover of 55.89 million shares in 1,297 deals. The number of gainers at the close of trading session was 11 while decliners also closed at 15.

SUNU Assurance Plc led the gainers’ table with a gain of 10 per cent to close at 22 kobo per share while Cutix Nigeria Plc followed with a gain of 7.69 per cent to close at N1.82 per share. Dangote Sugar Plc added 5.17 per cent to close at N12.20 per share. On the other hand, Julius Berger Plc led the price losers’ table, dropping 9.88 per cent to close at N15.50 per share. Nigerian Breweries Plc followed with 9.84 per cent to close at N30.70 per share while Linkage Assurance Plc trailed with a loss of 9.09 per cent to close at 46 kobo per share.

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