NSE closes for Eid-el-Kabir celebration with 0.18% growth

The Nigerian Stock Exchange (NSE) ended the week on Wednesday ahead of Eid-el-Kabir celebration with a growth of 0.18 per cent on bargain hunting.

Speficially, the All Share Index (ASI) improved by 43.57 points or 0.18 per cent to close at 24,693.73 against 24,650.16 posted on Tuesday.

Similarly, the market capitalisation which opened at N12.858 trillion rose by N23 billion to close at N12.881 trillion.

The News Agency of Nigeria (NAN) reports that the stock market has closed for the week with Federal Government’s declaration of July 30 and July 31 as public holidays to mark Eid-el-Kabir celebration.

The upturn was largely boosted by capital appreciation recorded in the shares of Seplat, BUA Cement, UACN, PZ Cussons and GlaxoSmithKline.

Consequently, the market breadth closed positive with 18 gainers and 14 losers.

Cornerstone Insurance and Seplat led the gainers’ chart in percentage terms, increasing by 10 per cent each, to close at 55k and N310.20 per share, respectively.

Prestige Assurance followed with a gain 8.70 per cent to close at 50k per share.

PZ Cussons garnered 5.13 per cent to close at N4.10, while Mutual Benefits appreciated by 4.55 per cent to close at 23k per share.

Conversely, NPF Microfinance Bank led the losers’ chart in percentage terms, losing 9.92 per cent to close at N1.18, per share.

Arbico followed with a loss of 9.74 per cent to close at N1.39, while Studio Press dipped 9.55 to close at N1.80 per share.

NAHCO dropped 4.76 per cent to close at N2, while Japaul Oil shed 4.35 per cent to close at 22k per share.

Transactions in the shares of Guaranty Trust Bank topped the activity chart with 10.87 million shares valued at N49.14 million.

FBN Holdings followed with 9.72 million shares worth N49.14 million, while United Bank for Africa traded 9.45 million shares valued at N58.59 million.

ETI sold 6.08 million shares worth N25.43 million, while Sterling Bank transacted 5.87 million shares valued at N6.99 million.

However, the total volume of shares traded declined by 32.45 per cent with a total of 101.59 million shares valued at N973.64 million achieved in 3,685 deals.

This was against 150.39 million shares worth 150.39 million shares worth N1.98 billion recorded in 3,780 deals on Tuesday.