NSE’s ASI sustains growth, record 0.25% increase

Equities trading activities on the Nigerian Stock Exchange (NSE) on Wednesday, sustained positive growth with the All-Share Index (ASI) improving further by 0.25 per cent.

The ASI rose by 91.23 points or 0.25 per cent to close at 36,622.85 compared with 36,531.62 achieved on Tuesday.

In the same vein, the market capitalization, which opened at N12.574 trillion inched N101 billion to close at N12.675 trillion, amid gains recorded by all sectoral indices.
The Banking index recorded the highest growth for the day with an increase of 0.68 percent following growth recorded in the share prices of UBA, FBN Holdings, Zenith and 3 other banking institutions.

The NSE Insurance Index was the day’s biggest sectoral losers with a decline of 1.16 per cent, as a result of significant losses recorded in AXA mansard and Continental Reinsurance on Wednesday.

An analysis of the price movement chart indicated that Fidson led the gainer’s table, with a 9.82 per cent increase to close at N3.69 per share.

CI Leasing came second with a gain of 7.60 per cent to close at N1. 84 and Honeywell Flourmills appreciated by 7.03 percent to close at N1.98 per share.

Nascon Allied Industries added 6.21 perc ent to close at N15.22, while AG Leventis advanced by 5.45 percent to close at 58 kobo per share.

On the other hand, Cutix Plc recorded the highest loss for the day with a decline of 9.36 percent in its share price to close at N2.13per share. This was followed by Forte Oil which recorded a loss of 4.99 per cent to close at N42.42 per share.

UPL trailed with a loss of 4.95 per cent to close at N2.11 and Jaiz Bank shed N4.62 to close at 62 kobo per share. Mansard was down by 3.85 per cent to close at N2 per share.

The volume of shares traded was upbeat as investors bought and sold a total of 332.99 million shares valued at N4.66 billion exchanged in 3,577 deals.
This was in contrast with a turnover of 199.86 million shares worth N1.81bn traded in 3,657 deals on Tuesday.

United Bank for Africa emerged the most traded with an exchange of 85.18 million shares worth N795.02m.

Zenith International Bank came second with 43.46 million shares valued at N1.14bn and Access Bank traded 41.13 million shares worth N407.92m.

Fidelity Bank sold 21.64 million worth N34.68m, while Guaranty Trust Bank traded 19.07 million shares valued at N800.57m.

Afolabi Adesola