Following price gains recorded by major highly capitalised stocks especially Nigerian Breweries, and Dangote Cement, transactions on the equity sector of the Nigerian Stock Exchange (NSE), continued in upbeat yesterday, as the All-share index appreciated by 1.03 per cent. 

Yesterday, Nigerian Breweries led the gainers’ table with a gain of N2.40 to close at N131.40 per share. Dangote Cement followed with a gain of 1.50 kobo to close at N259.90, while Lafarge Africa gained 1.00 kobo to close at N52.00 per share. Stanbic IBTC also grew by 1.00 kobo to close at N46, while Dangote Sugar Refinery added N1 to close at N22 per share.

The Chief Research Officer, Codros Capital Limited, Christian Orejekwe, said: “It is likely that gains extend on the back of relatively attractive stock prices, encouraging macroeconomic conditions, and investors will continue to take position ahead of Q4-17 earnings.”

Consequently, the All-Share Index appreciated further by N156billion or 1.03 per cent to close at 42,604.40 against 42,171.80 achieved on Wednesday. In the same vein, the market capitalisation, which opened at N15.133trillion, rose by N156billion or 1.03 per cent to close at N15.289trillion.
On the other hand, CAP posted the highest price loss to lead the laggards’ table, shedding N1.90 to close at N36.95 per share.

National Salt Company of Nigeria trailed with a loss of 75.00 kobo to close at N20.00, while Union Bank of Nigeria was down by 30 kobo to close at N7.55 per share. Etranzact depreciated by 25 kobo to close at N4.75, while Caverton also declined by 25.00 kobo to close at N2.60 per share.

Also, the volume of shares traded closed higher by 18.14 per cent as investors bought and sold 615.18 million shares worth N6.28 billion in 5,904 deals. This was, however down from 520.74 million shares valued at N4.72billion exchanged in 5,694 deals on Wednesday.

Multiverse was the most active with a turnover of 87.10 million shares worth N31.36million. Skye Bank followed with an account of 65.57 million shares valued at N73.79million.

Access Bank traded 59.03 million shares worth N766.38million. FCMB Group sold 56.14 million shares valued at N158.29million, while FBN Holdings traded 39.41 million shares worth N499.04million.