Index on Nigerian bourse up 0.64% as investors gain N88bn

Trading activities on the Nigerian Stock Exchange (NSE) on Friday sustained the positive slide with the market capitalisation appreciating further by N88 billion or 0.64% as a result of gains recorded by blue chip companies.

The market capitalisation which opened at N13.763 trillion rose by N88 billion or 0.64 per cent to close at N13.851 trillion.

Also, the All-Share Index added 247.14 points or 0.64 per cent to close at 38,923.26 compared with 38,676.12 on Thursday.

Nigerian Breweries, a major blue chip company on The Exchange, recorded price appreciation of N2.10 to close at N138.10 per share thus leading the gainers’ table with a gain for Friday trading.

Unilever followed with a gain of N1.99 to close at N41.85, while Forte Oil N1.90 to close at N46 per share while Guinness appreciated by N1.60 to close at N95.60, while Flour Mills added N1.43 kobo to close at N31.88 per share.

On the other hand, National Salt led the losers’ table with a loss of 61k to close at N20.18 per share.

PZ Industries followed with a gain of 40k to close at N20, while United Bank for Africa dropped by 24k to close at N11 per share.

FBN Holdings was down by 23k to close at N9.28, while Dangote Sugar depreciated by N1.43 to close at N31.88 per share.

A total of 753.31 million shares worth N11.02 billion were exchanged in 7,253 deals, compared to 825.13 million shares valued at N3.89 billion traded in 6,220 deals on Thursday with Transcorp emerging as the most traded equity, accounting for 171. 69 million shares worth N314.80 million.