Transactions on NSE up by 66%

The volume of transactions on the floor of the Nigerian Stock Exchange (NSE) rose by 66.2 per cent at the close of trading yesterday.

Buoyed by price appreciation in the shares of Dangote Cement, Stanbic and MTNN, the All-Share Index (ASI) notched up by 3.54 per to close at 28,562.48 points.

Consequently, year-to-date (YTD) return increased to 6.4 per cent while market capitalisation rose N470.9 billion to N13.8 trillion. Activity level improved as volume and value traded rose 66.2 and 58.4 per cent to 741.8 million units and N9.2 billion respectively.

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The top traded stocks by volume were UBA (156.0 million units), Zenith Bank (86.1 million units) and Access Bank (82.4 million units) while Zenith Bank (N1.9 billion), UBA (N1.1 billion) and MTNN (N1.3 billion) were the top traded stocks by value.

Performance across all sectors was superb as all indices  closed in the green. The Industrial Goods index led gainers with a 6.2 per cent gain, following substantial buy interest in Dangote Cement (+9.3 per cent).

The Banking (+3.7 per cent) and Insurance (+2.7 per cent) indices trailed due to gains in FBN Holdings (+10.0 per cent) and CHIPLC (+8.3 per cent).  Similarly, price appreciation in MTNN (+1.8 per cent), and Flour Mills (+8.8 per cent) pushed the AFR-ICT and Consumer Goods indices 1.0 and 0.3 per cent higher respectively.

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