7 September 2017

Nigeria: Guinness, Redstar Others Lift NSE's Indices By N71 Billion

Following price gains recorded by most blue chip companies, during transactions on the trading floor, the Nigerian Stock Exchange (NSE) closed in an upbeat yesterday, as market capitalisation appreciated by N71billion.

Yesterday, Guinness Nigeria topped the gainers chart with 10.24 per cent to close at N87.39 per share, while Redstar Express followed with 9.82 per cent to close at N4.81 per share. Air Service gained 4.93 per cent to close at N5.96 per share.

AG Leventis gained 4.62 per cent to close at N0.68 per share. Diamond Bank added 4.42 per cent to close at N1.18 per share. Cutix garnered 4.00 per cent to close at N2.60 per share. Seplat gained 3.44 per cent to close at N482.00 per share.

Zenith Bank added 2.86 per cent to close at N23.76 per share. Caverton garnered 2.68 per cent to close at N1.15 per share. Honeywell Flour Mills also gained 1.99 per cent to close at N2.05 per share.

However, PZ Cussons emerged the day's highest price loser with 4.98 per cent to close at N25.94 per share, while Morison followed with 4.88 per cent to close at N0.78 per share.

Linkage Assurance lost 4.48 per cent to close at N0.64 per share, First Aluminum depreciated by 3.57 per cent to close at N0.54 per share, and AIICO dropped 3.51 per cent to close at N0.55 per share.

Nigerian Aviation Handling Company shed 2.90 per cent to close at N3.01 per share, Sterling Bank dropped 2.93 per cent to close at N1.03 per share, and Custodian and Allied Insurance lost 2.78 per cent to close at N3.50 per share.

WAPCO shed 2.90 per cent to close at N52.80 per share, while TransNational Corporation also depreciated by 2.26 per cent to close at N1.30 per share.

Consequently, the market capitalisation of listed equities rose by N71billion or 0.6 per cent from N12.202 trillion recorded on Tuesday to N12.273 trillion.

Also, the All-share index appreciated by 205.15 points and rose from 35,403.92 to 35,609.07. The banking subsector remains the most active in volume terms with 180 million shares traded in 1,213 deals.

Trading in the sector was driven by activities in the shares of Guaranty Trust Bank with 68 million units in 233 deals, followed by Access Bank with 56 million shares in 244 deals. In all, investors exchanged 281 million shares in 4,065 deals.


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