• Wednesday, July 24, 2024
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Airtel, BUA Cement, Nigerian Breweries, others fuel stock market’s new rally

Stock market opens week on a negative note

Equities market of Africa’s largest economy sustained its record rally on Wednesday, December 23, as investors chose to take further positions in attractive stocks like Airtel Africa Plc, BUA Cement Plc, Nigerian Breweries Plc and others that recorded price increases.

The Nigerian Stock Exchange (NSE) All-Share Index (ASI) and Market Capitalisation moved from preceding day low of 37,893.61 points and N19.805 trillion, respectively, to 38,803.74 points and N20.281trillion at the close of the ongoing remote trading session on Wednesday.

The value of listed stocks increased by N476 billion as the market continued to see increased buy activities. The NSE ASI increased by 2.40 percent, pushing the week-to-date (WtD) increase to +5.43 percent while month-to-date (MtD) the market has increased by +10.73 percent. The stock market’s year-to-date (ytd) positive return increased to +44.56 percent.

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In 4,316 deals, stock investors exchanged 1,497,173,779 units valued at N18.748 billion. Access Bank, Flour Mill, BUA Cement and Zenith Bank were actively traded stocks on the Nigerian Stock Exchange (NSE).

Airtel Africa Plc recorded the highest gains on the Bourse after its share price moved from N774.4 to N851.8, up by N77.4 or 9.99 percent.

Likewise, BUA Cement share price increased from N55 to N60, up 5 or 9.09 percent.

Nigerian Breweries also advanced in price from N55 to N56, adding N1 or 1.82 percent. BOC Gas rose from N7.92 to N8.7, up by 78kobo or 9.85 percent while Vitafoam rallied from N7 to N7.5, adding 50kobo or 7.14 percent.