NSE’s ASI rises by 0.54 pct
The Nigerian stock market entered its 11th successive gain buoyed by strong 2.19 rebound by the industrial and the banking sector as the All Share Index rose by 0.54 per cent to close at 33,695.83 points.
Investors positive sentiment attributed to Skye Bank’s announcement on Tuesday of a fresh recapitalisation programme, submission of 2016 earnings to the Central Bank of Nigeria (CBN) and the recovery of bad loans amounting up to ₦6 billion.
The market capitalisation increased by 0.43 per cent to close at ₦11.6 trillion as 25 stocks advanced and 19 others declined. Neimeth led the gainers, increasing by 9.52 per cent to close at 0.92 kobo, Skye Bank followed with an appreciation of 9.52 per cent to close at 0.69 kobo while WAPCO rose by 5.00 per cent to close at ₦54.60 per share.
On the flipside, 7up depreciated by -4.99 per cent to close at ₦90.21 to lead the laggards. Vitafoam fell by -4.83 per cent to close at ₦2.56 while AGLevent decreased by -4.00 per cent to close at 0.72 kobo pershare.
The day’s main volume drivers showed that Prestige traded 26.76 million shares worth ₦13.38 billion while GTB and Transcorp transacted 18.75 and 15.84 million shares valued at ₦692.36 million and ₦23.88 million respectively.
Overall, transactions yielded a total of 191.43 million units of shares worth over ₦2.18 billion in 3,718 deals.
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