Stock Market Ends 3-day Losing ‎Streak

By Ikenga Chronicles October 21, 2016

Stock Market Ends  3-day Losing ‎Streak

The Nigerian Stock Exchange (NSE) recorded profit after three days of downswing, as equities got a fillip from
resumed bargain hunting activities across the board.

Consequently, the equities market closed on a positive note, as NSE ASI and market capitalisation appreciated by
0.44 per cent.

Similarly, the All-Share Index gained 120.3 basis points or 0.44 per cent to close at 27,598.34 basis points as against 27,478.04 recorded the previous day, while the market capitalisation of equities appreciated by N41billion or 0.44 per cent to close at N9.479 trillion from N9.438 trillion.

Meanwhile, a turnover of 111.8 million shares exchanged in 2,699 deals was recorded in the day’s trading. Banking sub-sector of the financial services sector was the most active (measured by turnover volume) with 36.7 million shares exchanged by investors in 724 deals. Volume in the subsector was largely driven by activities in the shares of GTB Plc and Fidelity Bank Plc. Premium sub-sector boosted by activities in the shares of FBNH Plc and Zenith Bank Plc followed with a turnover of 17.2 million shares in 537 deals.

The number of gainers at the close of trading session was 16, while decliners closed at 14. GTB Plc led the gainers’ table with 5.11 per cent to close at N24.49 kobo per share, while International Breweries Plc and NEM Insurance Plc followed with a gain of five per cent each to close at N19.95 and 84 kobo per share respectively.

Caverton Plc added 3.80 per cent to close at 82 kobo per share. On the other hand, Triple G Plc led the price losers’ table, dropping 4.90 per cent to close at N1.36 per share.

African Prudential Registrars Plc followed with 4.83 per cent to close at N2.56 per share, while Neimeth International Plc trailed with a loss of 4.65 per cent to close at 82 kobo per share

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