Nigeria: Stock Market Records First Gain in December

12 December 2019

The Nigerian Stock Exchange (NSE) yesterday recorded the first gain in December with the crucial market indices appreciating by 0.19 per cent.

Specifically, the All-Share Index increased by 49.79 points or 0.19 per cent to close at 26,434.00 compared with 26,384.21posted on Tuesday.

Also, the market capitalisation which opened at N12.734 trillion rose by N24 billion or 0.19 per cent to close at N12.758 trillion.

Consequently, the Month-to-Date and Year-to-Date losses moderated to -2.10 per cent and to -15.90 per cent respectively.

Market analysts attributed the rebound to renewed bargain hunting activities in high capitalised equities.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; MTN Nigeria, CI Leasing, Flour Mills of Nigeria, United Bank for Africa and UACN.

Market breadth closed negative with 12 gainers and 14 decliners.

C & Leasing led the gainers' chart in percentage terms, with a gain of 9.26 per cent to close at N5.90 per share.

Courteville followed with a gain 8.70 per cent to close at 25k, while Oando grew by 4.17 per cent to close at N3.75 per share.

UBA went up by 3.85 per cent to close at N6.75, while UACN appreciated by 3.11 per cent to close at N8.30 per share.

Conversely, Chellarams led the losers' chart by 9.74 per cent to close at N2.78 per share.

Union Diagnostic & Clinical Services followed with a decline of 8.33 per cent to close at 22k, while Chams went down by 8.11 per cent to close at 34k per share.

Linkage Assurance dipped 5.88 per cent to close at 48k, while Lasaco Assurance shed 3.85 per cent to close at 25k per share.

However, the total volume of shares traded closed lower as investors bought and sold 180.228 million shares worth N3.03 billion transacted in 2,951 deals.

NAN

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