• Sunday, April 21, 2024
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NSE All Share Index jumps 0.04% as OPEC cuts back production

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Oil and gas players led the gainers’ chart on Thursday rallying the NSE to reverse a negative trend. OPEC earlier in the day struck a deal to reduce crude production.  Seplat led the chart gaining N16.5 (5%). The oil and gas player posted positive results the previous day gaining N4 (1.23%). Nestle followed with N9.82 (1.2%), trailed by Mobil N 6.48 (3.44%). Forte Oil N1.99 (1.24%) and Conoil N1.7 (4.72%) followed suit.

The NSE-All Share Index closed in the green at 28,247.56, up 0.04% from 28,236.23 the previous day. Despite fewer deals – 2,905 against 3,273 the previous day – a higher volume of shares were transacted. 365.374 million shares exchanged hands at a value of N2.090 billion  compared to 159.046 million the previous day (N1.454 billion).

Market capitalization closed at 9.703 trillion compared to 9.699 trillion the previous day.

Analysis by sector (volume) showed Oando leading the oil & gas sector with 5,129,485 trades while WAPCO led the industrial goods category with 221,967. Financial services was led by FCMB with 16,547,139.

Top active shares (volume) on the other hand was dominated by the banking institutions which occupied 8 out of the top 10 positions. International Breweries (27,308,404) led, trailed by FCMB (16,547,139), then Zenith (14,999,510) and Access (14,644,053). Guaranty had 13,041,166 of its shares exchanged.

On the decliners’ list, 7 UP N3.5 (2.46%) was on the forefront flanked by NB N1.57 (1.07%) and GSK 0.9 (4.39%) respectively. Ashaka Cement  N0.85 (4.96%) followed trailed by Guaranty N0.56 (2.25%).