Market maintains positive trend as index rises by 1.82%
Market pulse on the Nigerian Stock Exchange (NSE) today-Tuesday September 1st, 2015 was bullish as the stock market closed green today, due to renewed optimism on a day that saw Brent, the global oil benchmark, drop by $2.90 to close at $41.04 a barrel. This was further highlighted by positive performances from all the NSE sub sectors (Banking, Insurance, Consumer Goods and Oil & gas). Trading activities increased in volume as 785.53 million shares worth N5.49 billion in 4,747 deals exchanged hands today. This is an increase from the 510.36 million shares worth N3.46 billion in 4,766 deals carried out on Monday. Topping in volume terms was United Bank For Africa Plc, Zenith Bank Plc and Access Bank Plc, while Access Bank Plc and Zenith Bank Plc, ended trading as the most active stocks in value terms.
The All Share Index (NSEASI) closed positive with a 1.82% (+540.50) increase to 30,225.34 from 29,684.84 the previous trading day. Market Capitalization appreciated in tandem to N10.39 trillion from N10.21 trillion of prior trading day. The Thisday BGL 50 Index also followed suit with a 1.82% increase to close at 123.09 from 121.04 of the previous trading day, while its market capitalization stood at 9.58 trillion from 9.42 trillion of the previous trading day.
A total number of 39 stocks gained on the bourse today while20 stocks declined, leaving 56 stocks unchanged. Okomu Oil Plc emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 10.23% to close at N23.81 per share. It was followed by Stanbic IBTC Plc with a gain of 10.23% to close at N21.65 per share. Others on the gainers list include; PZ Cussons Plc, Mansard Insurance Plc and Skye Bank Plc while on the decliners’ list, Cadbury Plc led with a loss of 4.97% to close at N27.14 per share. It was followed by Flourmills Nigeria Plc with a loss of 3.85% to close at N23.22 per share. Others on the losers list include; Continental reinsurance Plc, Transcorp Plc and Forte Oil Plc.