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Nigerian Stock Market Gradually Recovers From Loss

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After losing for six consecutive trading days, the Nigerian stock market has this week gained 0.30 percent in open trading in the All-Share Index.

The index rose by 0.30 per cent or 91.70 points to close at 30,234.72, from the 30,143.02 achieved on Friday, January 9, 2015.

Similarly, the market capitalisation, which opened at N9.980 trillion, increased by N30 billion to close at N10.010 trillion.

Market breadth also improved with 18 gainers and 24 losers. Seplat led the gainers’ chart by N15, to close at N315 per share. Dangote Cement gained N7.75 to close at N166.40, while Seven Up grew by N1 to close at N161 per share, according to Leadership reports.

Presco had an increment of 90 kobo to close at N27, while Oando increased by 49 kobo to close at N15.54 per share.

Similarly, Nestle recorded the highest price loss of N42.75, to close at N812.25 per share. Julius Berger trailed with a loss of N5.07 to close at N46.95, while Nigerian Breweries dipped by N2.13 to close at N144.40 per share.

Glaxosmith lost N2.13 to close at N40.66, while Stanbic IBTC depreciated by N1 to close at N26 per share.

Zenith Bank topped the investor’s list with 96.29 million shares worth N1.53 billion. Mutual Benefit exchanged 64.03 million shares valued at N32.02 million, while FBN Holdings sold 25.46 million shares worth N200 million.

Access Bank traded 21.33 million valued at N112.41 million and FCMB sold 20.60 million worth N45.26 million.

Generally, the volume of traded shares decreased by 27.55 per cent as investors exchanged a total of 327.454 million shares worth N3.61 billion in 4,530 deals as against the 451.969 million shares valued at N2.73 billion traded in 4,545 deals.

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