Stocks gain N242bn, naira appreciates at interbank
The Nigeria Stock Exchange (NSE) corporate building in Lagos.
Nigerian stocks sustained its positive bearing yesterday as trading activities by investors yielded N242 billion gain at the close of the market.
With the recorded improvement, the market All-Share Index (ASI) appreciated 705.11 basis points to close at 30,127.28 points as the market capitalization also closed at N10.347 trillion after a 2.40 per cent growth in both.
The turnover was most driven by activities on the Nigerian Breweries Plc that contributed the highest traded value 28.45 per cent in 203 trades; while Guaranty Trust Bank Plc closed at investors’ delight contributing to the total traded volume by 17.23 per cent in 377 trades.
The breadth also closed positive with 31 gaining stocks, 16 declining stocks and 11 other stocks closing unchanged at the end of the session.
Nestle Nigeria Plc topped the gainers’ list as it appreciated N16 to close at N832 per share, while WAPCO Plc led the losers’ chart with N4.39 kobo to close at N73.51 kobo per share.
At the end of the session, investors traded 541.87 million valued at N7.930 billion in 5,727 deals as compares 533.318 million units of shares worth N6.789 billion that exchanged hands in 5,736 transactions on Tuesday.
Meanwhile, naira firmed to close at 281.50 to the dollar on Wednesday, its first daily gain since the central bank ditched its 16-month old peg on the currency on Monday.
The naira, which slumped 30 percent at its float on Monday, has traded as weak as 285 to the dollar. It firmed on Wednesday following a central bank dollar sale to improve dollar liquidity
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