Nigerian bourse bounces back, up by N28bn

The Nigerian bourse yesterday halted a threeday losing streak, recording its first bullish performance of the week.

Market capitalisation of listed equities for the day increased by N23 billion or 0.19 per cent to N12.223 trillion from N12.200 trillion reported the previous day.

Also the NSE All Share Index appreciated by 66.82 basis points to 35464.34 from 35397.52 traded on Tuesday.

A breakdown of the investment showed that Nestle Nigeria Plc led gainers table for the day, gaining N39.80 kobo to close at N1190, Unilever Nigeria Plc followed with a gain of N2.00 to close at N44.00, Glaxosmith gained N0.40 kobo to close at N21.40 kobo, Guaranty Trust Bank advanced by N0 36 kobo to close at N37.88 kobo. Dangote Sugar Refinery increased by N0.17 kobo to close at N13.75 kobo.

On the contrary, Presco Plc recorded the highest loss during the day, dropping by N3.19 kobo to close at N60.80 kobo, Stanbic IBTC trailed with a loss of N1.19 kobo to close at N40. 01 kobo, Flour Mills Nigeria Plc fell by N1.05 kobo to close at N26.50 kobo, Forte Oil down by N0.18 kobo to close at N48.80 kobo while Lafarge Wapco declined by N0.47 kobo to close at N50.52 kobo.

Volume of transactions on the floor of the Nigerian Stock Exchange however declined by 67 per cent.

The NSE trading result showed that volume of activities dropped by 253.600 as investors exchanged 119.898 million shares worth N1.744 billion in 3015 deals against 373.498 million shares valued at N5.766 billion traded the previous day in 4193 deals.