NSE Records Positive Performance

By Ikenga Chronicles December 8, 2016

Nigerian Stock Exchange (NSE) yesterday recorded a gain of 0.01 per cent in the overall market performance indices.

While trading ended on the negative in the previous day due to the sell pressure that has pervaded the market, yesterday saw a relief.

However, the All- Share Index gained 2.57 basis points or 0.01 per cent to close at 25,673.80 index points as against 25.671.23 recorded the previous day.

Meanwhile, the market capitalisation of equities grew by N2 billion from N8.831 trillion the previous day to N8.833 trillion while an income of 255.7 million shares exchanged in 2,480 deals was recorded in the day’s trading.

In the banking sub- sector of the financial services sector, it experienced an active turnover with 173 million shares exchanged by investors in 575 deals. Volume in the sub-sector was driven by the activities in the shares of Wema Bank Plc and Diamond Bank Plc.

Also, activities in the shares of NEM Insurance Plc and Wapic Insurance Plc helped record a turnover of 15 million shares in 88 deals in the Insurance sub-sector of the financial services sector.

The sum total of gainers, 16, has Forte Oil Plc lead the chart with 10.24 per cent to close at N87.42 per share while Transcorp Plc followed with 7.32 per cent to close at 88 kobo per share and Portland Paints Plc with a gain of 4.88 per cent to close at N2.18 per share.

The flip side has a list of 20 on its side, as Oando Plc led with a drop of 9.43 per cent to close at N4.13 per share, Transcorp Hotels Plc followed with a loss of 4.96 per cent to close at N4.98 per share while Avoncrown Plc dropped by 4.55 per cent to close at N1.26 per share.

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