Stock market sustains gain with fresh N101bn

The Nigerian stock market sustained upward trend yesterday as investors in the market gained N101 billion at the end of trading.

The positive trend was significantly impacted by gains recorded in some large and medium capitalised stocks numbering 25 against 13 declining stocks and 13 others that closed the session with unchanged prices.

The market value consequently soared by 1.05 percent and market capitalisation closed higher at N9. 645 trillion while the NSE’s All-Share Index (ASI) added 490.77 points to close at 27,900.44 basis points after fluctuating between 28, 423.70, 27, 927.99 and 27, 513.69 as highest, average and lowest index points.

However, the turnover for the session declined, compared to the previous session as volume and value traded plunged by 34.74 percent and 91.41 percent respectively.

The gainers were led by Nestle Nigeria Plc, gaining N24.94k to close at N825.05k per share. Nigerian Breweries PLC followed with N3 gain to close at N148 per share, while Guaranty Trust Bank Plc added N1.20k to its price and closed at N30.7k per share.

Conversely, the losers’ chart was topped by Stanbic Plc with a decline of 50k to close at N26 per share. Union Bank of Nigeria Plc shed 15k and Zenith Bank Plc depreciated by 11k to close at N5 and N17.10k per share.