Equity Trading Reverses Bearish Trend, Posts 0.35% Growth

The negative trends experienced by the stock market in Nigeria were on Tuesday reversed, influenced by the gains by Nigerian Breweries and 22 other stocks.

The stock market grew by 0.35 percent on a day many investors were involved more in buying rather than selling stocks. The All-Share Index (ASI) improved by 95.98 points to close for the day at 27,609.67 points, while the market capitalisation increased by N33.2 billion to finish at N9.544 trillion and the year-to-date return ended at 2.74 percent. Nigerian Breweries topped the gainers’ chart today after advancing by N3.33k to close at N145 per share, while Nestle gained N2.11k to end at N800.11k per share.

Okomu Oil went up by N1.50k to finish at N50 per share, CAP progressed by N1.45k to close at N34.50k per share, while Guinness moved up by N1 to end at N70 per share. On the other hand, Seplat fell by N34.20k to close at N345.80k per share and Total declined by N3.90k to end at N265 per share. Air Service depreciated by 40k to finish at N4.7k per share, Ecobank slumped by 25k to close at N9.45k per share and Dangote Sugar declined by 24k to end at N6.51k per share.

Business Post correspondent reports that at the close of trading activities on the floor of the Nigerian Stock Exchange (NSE) today, investors traded a total of 569 million shares worth N6.7 billion executed in 4,632 deals.