Stock market index crosses 44,000 mark amid sustained equity rally

Heavy price gains recorded by most highly capitalised stocks yesterday, buoyed transactions on the equity sector of the Nigerian Stock Exchange (NSE), as the All-share index crossed the 44,000 mark.

Specifically, at the close of transactions yesterday, the All-share index rose to 44,054.72 from 43,119.00 achieved on Monday, representing an increase of 935.72 points or 2.2 per cent.

Similarly, the market capitalisation increased by N335billion to close at N15.782trillion against N15.447trillion posted on Monday.

On the price movement chart, 46 stocks recorded price appreciation, as Mobil led the gainers’ chart with 9.50 kobo to close at N199.50 per share. Guinness followed with 5.01 kobo to close at N114 per share. Dangote Cement recorded a gain of 5.00 kobo to close at N260 per share.

Julius Berger increased by 2.75 kobo to close at N30.97 per share. Zenith International Bank appreciated by 1.51 kobo to close at N35.57 per share. Stanbic IBTC gained 1.28 kobo to close at N46.22 per share.

FBN Holding added 1.19 kobo to close at N1.19 per share. Dangote Sugar garnered 1.01 kobo to close at N21.31 per share. Ecobank TransNational Incorporated appreciated by 0.95 kobo to close at N19.95 per share. Guaranty Trust Bank gained 0.90 kobo to close at N51.00 per share.

Cement Company of Northern Nigeria garnered 0.81 kobo to close at N14.65 per share. United Bank for Africa grew by 0.60 kobo to close at N12.60 per share. GlaxoSmithKline also rose by 0.50 kobo to close at N22.00 per share.

On the other hand, Nestle recorded the highest price loss to lead the losers’ chart, dropping by 10.00 kobo to close at N1,480 per share.

Lafarge Africa trailed with a loss of N1.82 to close at N52.24 per share. PZ Cussons shed 67 kobo to close at N23.32 per share.
UACN was down by 50 kobo to close at N18.00 per share. CAP declined by 49 kobo to close at N37.01 per share.

However, the volume of shares traded closed lower with a turnover of 635.40 million shares valued at N7.64billion in 7,331 deals against the 730.62 million shares worth N6.30billion transacted in 7,964 deals on Monday.