Good News As NSE Market Indices Appreciate By 0.5%

Activities at the Nigerian Stock Exchange (NSE) opened on Monday on a positive trend; with the market indices appreciating by 0.50 per cent following investors positive response to the 2016 budget passage.

The News Agency of Nigeria (NAN) reports that the All-Share Index rose by 126.70 points or 0.50 per cent to close at 25,828.30 against 25,701.60 achieved on Friday due to price appreciation.

Floor of the Nigerian Stock Exchange Market
Floor of the Nigerian Stock Exchange Market

Also, the market capitalisation inched N44 billion or 0.50 per cent to close at N8.884 trillion compared with N8.840 trillion.

NAN reports that the market appreciated by 0.54 per cent on May 6 when the budget was signed by President Muhammadu Buhari.

An analysis of the price movement chart indicated that Unilever topped the gainers’ table, gaining N3.30 to close at N35.54 per share.

Nigerian Breweries came second with a gain of N1.62 to close at N116.70, while Flourmill garnered N1.06 to close at N23.40 per share.

Zenith Bank rose by 60k to close at N13.75 and UACN improved by 59k to close at N18.60 per share.

On the other hand, Total led the losers’ chart, dropping by N5 to close at N152 per share.

Glaxo Smithkline lost N1.07 to close at N20.36, while Cadbury dipped 82k to close at N15.64 per share.

Forte Oil shed 66k to close at N219.26 and Berger Paint dropped 42k to close at N8.11 per share.

NAN also reports that volume of shares traded closed higher as investors bought and sold 559.96 million shares valued at N6.44 billion exchanged in 3,655 deals.

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This was in contrast with a total of 181.11 million shares worth N1.17 billion traded in 3,710 deals on Friday.

ETI was the toast of investors, accounting for 224.06 million shares valued at N4.78 billion.

It was trailed by Access Bank with an exchange of 161.61 million shares worth N675.31 million, while Transcorp sold 24.67 million shares valued at N27.07 million.

UBA traded 18.46 million shares worth N62.72 million and investors staked N57.09 million on 16.52 million shares of FBN Holdings.

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Arinze Esomnofu is a Content writer with Edliner.com He is not only talented but also passionate about writing and reporting as he has had some of his op-ed article featured in top Nigerian Online and Traditional media houses. He is also a freethinker on religious matters.

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