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Nigerian Stock Exchange sustains rally as 21 equities rise

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The uptrend in the Nigerian Stock Exchange, NSE, continued today, resulting in rise in investors wealth by N3 billion after 21 equities recorded price increase.

Nigerian Stock Exchange
Nigerian Stock Exchange NSE

This followed the rally in some highly capitalised stocks, especially rebound in some banking names that had recorded downturn the previous day.

At the end of trading, the equities capitalisation rose to N15.219 trillion from N15.126 trillion with Japaul Oil and Maritime Plc leading the gainers with 5.71 percent increase to close at N0.37 from N0.35.

Champion Breweries Plc followed, rising by 4.81 percent to close at N2.83 from N2.70; Continental Reinsurance Plc chalked up by 4.64 percent to close at N1.58 from N1.51; Prestige Assurance Plc was up 4.44 percent to close at N0.47 from N0.45, while Law Union and Rock Plc rose by 4.35 percent to close at N0.72 from N0.69 per share.

On the other hand, 30 equities recorded price depreciation, led by Conoil Plc with 9.58 percent to close at N32.10 from N35.50.

Unic Diversified Holdings Plc placed second, dropping by 6.25 percent to close at N0.30 from N0.32; Fidelity Bank Plc declined by 5.66 percent to close at N3.00 from N3.18; Courteville Business Solution Plc fell by 5.26 percent to close at N0.36 from N0.38, while UAC Property Development Company Plc closed as the last on top five losers table, depreciating by five percent to close at N2.85 from N3.00 per share.

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