Stock Market Records N87 bn Gain

By Ikenga Chronicles December 14, 2016
After closing the market in the positive in last week’s trading, the  Nigerian Stock Exchange (NSE) opened this week with a record gain of 0.98 per cent.
All- Share Index saw a profit of  253.47 basis points equivalent to 0.98 per cent to close at 26,071.16 index points as against 25.817.69 recorded last Friday while the market capitalisation closed flat from N8.883 trillion at the weekend to N8.970 trillion.
Yesterday also witnessed a turnover of 376.6 million shares exchanged in 2,885 deals as the banking sector was again the most active  (measured by turnover volume) with 218.8 million shares exchanged by investors in 675 deals
Volume in the sub-sector was largely driven by activities in the shares of Wema Bank Plc and Diamond Bank Plc with FCMB Plc and African Prudential Registers Plc all pulling  a turnover of 91.08 million shares in 274 deals
However, the gainers list at the close of trading session pulled up to 23 while losers amounted to 14 .
A breakdown of the gainers chart saw Seplat Petroleum Plc‎ on the lead with 10.25 per cent to close at N374.85 per share, followed by Forte Oil Plc with 10.24 per cent to close at N117.11 per share and Champion Breweries Plc with a gain of 9.66 per cent to close at N2.61 per share.
On the flipside, Avon Crown Nigeria Plc led the losers’ chart with a drop of five per cent to close at N1.14 per share. Portland Paints Plc followed with a loss of 4.80 per cent to close at N2.18 per share while UBN Plc dropped by 4.70 per cent to close at N4.26 per share.
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