NSE investors gain N18b on Wednesday

Investors gained 18 billion Naira on Wednesday on the equities Market of the Nigerian Stock Exchange as demand for Tier 1 bank stocks, and Internationally Breweries Plc. drove the index higher.

Consequently, the NSE All Share Index and the Market Capitalisation advanced by 0.14% to close at 25,171.32 basis points and 13,131 trillion Naira, respectively.

Although the total volume of trades declined by 33.6% to 180.01 million units, valued at N1.54 billion and exchanged in 3,108 deals, Market breadth was flat with 13 stocks gaining relative to 13 losers.

Zenith Bank Plc was both the most traded stock by volume and by value at 35.94 million units and N605.18 million, respectively.

Analysing sectoral performances, the Market recorded gains across the Banking, Insurance and Consumer Goods indices by 0.8%, 0.4% and 0.2%.

While the Industrial Goods Index declinedby 0.04% and the Oil & Gas index traded flat.

Studio Press (Nig) Plc gained 10.0% or 0.18k when it moved from a previous selling price of N1.80k per share, to close at N1.98k per share and international Breweries Plc. followed with 0.20k or 7.1% gain, when it closed at N3.00 per share, against previous selling price of N2.80k per share, topping the gainers’ list.

While CAP Plc declined by 1.70k or 10.0%, from N17.00 per share to N15.30k per share and Royal Exchange Plc declined 9.7% or 0.03k from 0.31k per share to 0.28k per share, recording the largest losses of the day.

Source: Voice of Nigeria