NSE Index Halts Downward Spiral With 1.38% Gain

Transactions on the floor of the Nigerian Stock Exchange, NSE, on Wednesday, June 14, halted a two-day downward spiral with 1.38 percent surge in market value.

As such, the All Share Index gained 456.35 points to close at 33,597.20 points compared with 93.43 points lost previously when ASI closed at 33,235.28 points. Likewise, the market capitalization added N158 billion to close at N11.618 trillion against N29 billion shed on Tuesday to close at N11.460 trillion. Activity chart showed that May and Baker led the advancers’ table, appreciating by 10.20 percent to close at N3.78 per share. Ashaka Cement followed with a gain of 10.18 percent to close at N14.07 and Unilever gained 10 percent to close at N40.70 per share.

Unity Bank surged by 8.86 percent to close at 86 kobo, while Skye Bank grew by 8.62 percent to close at 63 kobo per share. Conversely, International Breweries led the losers’ chart, dropping by 4.80 percent to close at N28.56 per share. Cutix followed with a loss of 4.62 percent to close at N1.86 and 7up declined by N4.44 to close at N90.30 per share. PZ Cussons was down by 4 percent to close at N22.08, while Sterling Bank depreciated by 3.60 percent to close at N1.07 per share.

At the end of trading, the volume of shares traded climbed with a total of 759 million shares compared to 410.22 million shares traded on Tuesday. The value traded in 7,357 deals also increased to N6.3 billion against N5.55 billion traded on Tuesday.