BY PROVIDENCE OBUH
The declining trend on the Nigerian Stock Exchange (NSE) was halted, Wednesday, as equities’ value representing the market capitalisation appreciated by N55.30 billion.
Specifically the capitalisation surged by 0.69 per cent to close at N8.013 trillion from N7.958 trillion at which it opened. Another key performance indices, the All share index rose by 0.69 per cent or 174.95 basis points to close at 25,062.69 points from 24,889.74 points.
May and Baker Nigeria Plc led on the gainers’ table with 4.97 per cent or N0.18 to close at N3.80 per share, Oceanic Bank International Plc followed with a gain of N0.06 to close at N1.27 per share and Stanbic IBTC Bank Plc garnered N0.46 to close at N9.76 per share.
Other share price gainers include: First Bank Nigeria Plc N0.59, Union Homes Saving and Loans Plc N0.03, Prestige Assurance Plc N0.08, National Salt Company Nigeria Plc N0.25, Transnational Incorporation Plc N0.04, Afribank Plc N0.05, Union Bank Nigeria Plc N0.09, among others.
On the contrary, BOC Gases Plc led on the losers chart dropping by 4.97 per cent or N0.39 to close at N7.45 per share, Tripple G Plc followed with a loss of N0.17 to close at N3.25 per share and Nigeria Wire and Cables Plc dipped by N0.03 to close at N0.58 per share.
Other share price losers include: United Nigeria Textiles Plc N0.03, AIICO Insurance Plc N0.04, Costain West Africa Plc N0.16, Red Star Express Plc N0.14, Fidson Healthcare Plc N1.81, C&I Leasing Plc N0.06, DN Meyer Plc N0.07, among others.
Equity trading depreciated by 9.01 per cent, as a turnover of 284.03 million shares valued at N2.14 billion was recorded in 5,365 deals in contrast to the previous day’s turnover of 312.16 million shares valued at N1.71 billion in 6,190 deals.
The Banking sub-sector was the most sought after on the sectorial analysis accounting for 60.11 per cent of the market turnover with 170.73 million shares valued at N987.84 million in 3,144 deals. Unity Bank Plc enjoyed the most patronage in the sub-sector trading 23.74 million shares valued at N20.41 million in 31 deals, United Bank for Africa Plc followed with the exchange of 20.39 million shares valued at N112.01 million in 254 deals and Guaranty Trust Bank Plc recorded 18.08 million shares valued at N279.29 million in 545 deals.