NSE rebounds by 0.65% after three days loss

After three days consecutive loss, transactions rebounded on the Nigerian Stock Exchange (NSE) on Thursday following gains posted by Dangote Cement.

Consequently, crucial market indices rebounded by 0.65 per cent with the market capitalisation rising by N88 billion to close at N13.672 trillion against N13.584 trillion on Wednesday.

Also, the NSE All-Share Index inched 244.15 points or 0.65 per cent to close at 37,743.22 compared with 37,499.07 achieved on Wednesday.

An analysis of the price movement chart shows that Dangote Cement topped the gainers’ table with N5 to close at N228 per share.

Nigerian Breweries followed with a gain of N2 to close at N113, while Cement Company of Northern Nigeria appreciated by N1.10 to close at N24.30 per share.

Julius Berger grew by 90k to close at N28.95, while Dangote Sugar increased by 65k to close at N19 per share.

On the other hand, Mobil Oil recorded the highest loss for the day, dropping by N15 to close at N175 per share.

Flour Mills came second with N1.75 to close at N31, while International Breweries was down by N1.35 to close at N41 per share.

UACN declined by 35k to close at N13.55, while NEM Insurance lost 30k to close at N3.10 per share. United Bank for Africa was the toast of investors, exchanging 294.922 million shares worth N3.052 billion.

However, the volume of shares traded dropped marginal with an exchange of 503.12 million shares valued at N5.89 billion achieved in 3,710 deals.

This was lower when compared with a turnover of 505.74 million shares worth N3.13 billion transacted in 3,354 deals on Wednesday.

Banking stocks dominated trading activities with Zenith International Bank emerging toast of investors, accounting for 38.30 million shares valued at N930.66 million.

Access Bank traded 34.40 million shares worth N356.08 million, while Guaranty Trust Bank traded 13.68 million shares valued at N546.10 million. FBN Holdings sold 11.76 million shares worth N123.49 million.

Credit: NAN.