‎Big cap stocks rally N370bn gain on NSE

GAINS recorded by large-cap stocks listed on the Nigerian Stock Exchange (NSE) initiated the rebound recorded at the close of transactions on Wednesday.

At the local bourse, after a loss of 0.66 percent on Tuesday, closed market with a 2.44 percent rise, lifting the year-to-date gain to 13.30 percent.

The All-Share Index (ASI) increased by 1,030.98 points on Wednesday to settle at 43,330.54 points, while the market capitalisation grew by N370 billion to finish at N15.550 trillion.

The positive performance of the market was mainly influenced by the Consumers Goods sector, which rose by 2.45 percent and the Banking industry, which appreciated by 0.78 percent.

The volume and value of equities exchanged on the floor of the NSE on Wednesday appreciated as a total of 571.9 million shares were transacted in 5,142 deals worth N10.8 billion against 438.7 million stocks sold for N8.8 billion in 5,433 deals.

At the close of business transactions, Nestle emerged the highest price gainer, appreciating by N42 to close at N1,442 per share.

Dangote Cement increased by N12.80 kobo to finish at N269.80 kobo per share, while Nigerian Breweries improved by N5.80 kobo to end at N135.90 kobo per share.

Seplat advanced by N2.60 kobo to settle at N660.50 kobo per share, while Unilever jumped by N2.40 kobo to finish at N51.20 kobo per share.

ALSO READ: NSE: Nestlé, Dangote Cement loss opens week at -0.91

At the other end, Red Star Express suffered the biggest loss, going down by 30 kobo to settle at N6 per share.

It was followed by Union Bank, which went down by 15 kobo to close at N6.50 kobo per share, and Transcorp, which fell by six kobo to end at N1.97 kobo per share.

Dangote Flour decreased by five kobo to close at N16.45k per share, while Linkage Assurance decreased by four kobo to finish at 86 kobo per share.

On the activity chart, FCMB was the most traded stock today, exchanging a total of 192.9 million units worth N483.2 million.
Access Bank followed with 49.6 million equities sold for N652.9 million, and FBN Holdings, which traded 48 million shares at N551.7 million.

Transcorp transacted 34.6 million equities for N69.6 million, while Zenith Bank exchanged 25.6 million shares valued at N816.5 million.