The Nigerian stock market Wednesday stopped its losing streak with a record 1.38 percent gain.
The upturn was largely boosted by value appreciation recorded in some largely capitalized stocks such as Seplat Petroleum Development Company Plc, Unilever Nigeria Plc, Okomu Oil Palm Plc, Nigerian Breweries Plc, and PRESCO Plc. Seplat led the basket of thirty-six (36) gainers against 22 losers.
The market’s lead indicator – the All-Share Index (ASI) appreciated by 456.35 points, representing a gain of 1.38 percent to close at 33,598.20 points as against 33,141.85 points recorded on Tuesday. Similarly, the market capitalisation gained about N158billion to close at N11.618trillion as against N11.460 trillion the preceding day.
Seplat Petroleum Development Company Plc gained N5.5, from N460.01 to N 465.51; Unilever Nigeria Plc gained N3.7, from N37 to N40.7; Okomu Oil Palm Plc gained 3.18, from N63.66 to N66.84; Nigeria Breweries Plc gained N2.9 from N157.1 to N160; while PRESCO Plc advanced from N2.74, from N66.15 to N68.89.
Seven Up Bottling Company Plc declined by N4.2 to make the top losers table, from N94.5 to N90.3; Forte Oil Plc followed after losing N2, from N58 to N56; International Breweries Plc lost N1.44, from N30 to N28.56, PZ Cussons Nigeria Plc declined 92kobo, from N23 to N22.08; while UAC of Nigeria dropped 38kobo from N18, to N17.62.
FBN Holdings Plc led yesterday activity chart as stock traders exchanged 106.36million shares worth N727.10million. Transnational Corporation of Nigeria Plc followed with 99.78million shares valued at N186.99million; while Lasaco Assurance Plc exchanged 99.75million units worth 49.87million, Access Bank Plc, exchanged 76.46million shares worth N767.05million and Zenith Bank Plc traded 61.12 shares worth N1.30billion.
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