NSE gains for third consecutive day, heads for N13trn

Transactions on the Nigerian Stock Exchange (NSE) recorded a profit for the third consecutive day and may hit N13 trillion on sustained gains.

The market had hit the N13 trillion mark in August, the first time since 2014.

Market capitalisation, which stood at N12.694 trillion at the start of trading, gained N72 billion to close at N12.766 trillion.

All-share index also rose by 206.91 points to close at 36,887.20 as against 36,680.29 posted on Tuesday.

Mobil Oil topped the gainer’s chart with its share adding N6 to close at N161 per share.

Dangote Cement followed with an appreciation of N3.50 to close at N227.50 and Presco gained N3.32 to close at N69.82 per share.

International Breweries also increased by N1.01 to close at N50 and shares belonging to Flour Mills improved by 61k to close at N32.11 per share.

Nestle recorded the highest loss, losing N2 to close at N1,250 per share.

Stanbic IBTC trailed with a loss of N1.40 kobo to close at N42.50 and NASCON was down by 65k to close at N15 55 per share.

Cadbury declined by 39k to close at N10.11, while PZ Industries also depreciated by 39k to close at N22.61 per share.

FBN Holdings was the active stock in volume terms, trading 40.094million shares worth N255.05 million.

Sterling Bank followed with an exchange of 31.96 million shares valued at N31.95 million, while Diamond Bank exchanged 26. 03 million shares worth N26.28 million.

Stanbic IBTC sold 20.04 million shares valued at N850.54 million, while Fidelity Bank traded 19.83 million shares worth N30.43 million.

In all, investors bought and sold a total of 249.35 million shares valued at N5.20 billion achieved in 4,119 deals.

NAN reports that this was in contrast with 259.08 million shares worth N3.05 billion traded in 4,503 deals on Tuesday.