Stock Market Ends Eight Days Losing Streak

By Ikenga Chronicles November 24, 2016
The stock market saw the end of its eight days losing streak after the NSE and market capitalization gained by 0.22 percent ‎each at the end of yesterday. The All-Share Index recorded profit of  55.66 basis points or 0.22 per cent to close at 25,517 basis points as against 25,461.34 recorded the previous day.
The market capitalisation of equities also  appreciated by N20 billion or 0.22 per cent to close at N8.784 trillion from N8.764 trillion.
This time, the banking sub-sector of the financial services sector was the most active (measured by turnover volume) with 104.8 million shares exchanged by investors in 668 deals. Volume in the sub-sector was largely driven by activities in the shares of Access Bank Plc and Diamond Bank Plc. Premium board sub-sector boosted by activities in the shares of Zenith Bank Plc and FBNH Plc followed with a turnover of 25.1 million shares in 384 deals.
Meanwhile, a turnover of 165.7 million shares exchanged in 2,484 deals was recorded in the day’s trading. The biggest  gainers at the close of trading session was 19, while decliners closed at 11.
Top on the gainer’s list is Sterling Bank Plc, with a gain of 5.71 per cent to close at 74 kobo per share while Oando Plc added five per cent to close at N4.20 per share. Flour Mills Plc added 4.99 per cent to close at N18.74 per share.
Forte Oil Nigeria Plc led  the price losers’ table, dropping 6.19 per cent to close at N70.00 per share. Julius Berger Plc lagged with five per cent to close at N36.10 per share. African Prudential Plc trailed with a loss of 4.32 per cent to close at N2.66 per share.
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