By Michael Eboh
The declining trend on the Nigerian Stock Exchange (NSE) was halted Thursday, as the value of listed equities appreciated by N67.08 billion.
In particular, equitiesâ€™ value, represented by the market capitalisation, rose by 1.08 per cent to N6.287 trillion from N6.220 trillion at which it opened.
The index shed 275.76 basis points to close at 25,849.42 points from 25,573.66 points at which it opened.
The rise in the indices was occasioned by a rally on prices of majority of the listed stocks, led by Oando Plc, with a gain of N3.05 to close at N80 per share, Flour Mills Nigeria Plc followed with a gain of N2.48 to close at N68.20 per share and UAC Nigeria Plc garnered N1.99 to close at N41.94 per share.
Conversely, Guinness Nigeria Plc recorded the most share price loss, dropping by N3.47 to close at N152.73 per share, Nigerian Breweries Plc followed with a loss of N2.55 to close at N63 per share and Seven-Up Bottling Company Plc dipped by N2.47 to close at N47.02 per share.
Other share price losers include: Julius Berger Nigeria Plc N2.45, BOC Gases Plc N0.53, University Press Plc N0.36, Berger Paints Plc N0.26, Access Bank Plc N0.20, Starcomms Plc N0.10, Intercontinental Bank Plc N0.09 among others.
A significant improvement was also recorded in equitiesâ€™ trading, as a turnover of 689.27 million shares valued at N4.81 billion in 9,696 deals, rising by 51.33 per cent from the previous dayâ€™s turnover of 454.86 million shares valued at N3.68 billion in 7,661 deals.
The Banking sub-sector recorded the highest transaction in the sectorial analysis, accounting for 77.09 per cent of the market turnover, with 531.33 million shares valued at N2.76 billion in 3,272 deals.
Fidelity Bank Plc emerged the most active in the sub-sector, trading 254.93 million shares valued at N721.72 million in 101 deals, followed by Skye Bank Plc with the exchange of 73.87 million shares valued at N592.26 million 141 deals and BankPHB Plc recorded 61.19 million shares valued at N92.13 million in 63 deals.