Chai! You no go believe wetin just happen for Nigerian Exchange Limited, my people. Trading yesterday sweet like suya for market! Na strong performance wey consumer and banking stocks give us carry the market go up, dem dey shine like star for night.
Investors no gree slack o, dem waka come drop 1,025,534,120 shares for 51,194 deals. Can you imagine? Dat one na serious market turnover wey reach N31.36bn! E mean say dem don chop 36 per cent increase for volume and six per cent rise for turnover when you compare am with wetin happen on Wednesday. Na wa o, but the deals decline small, about eight percent. No wahala, e be like say dem just dey warm-up.
Market capitalisation don reach N106.3tn; e dey show say investor confidence dey ginger despite wetin dey happen for different sectors. Na so we see 132 equities wey participate for trading, and when dem check am, 36 don dey gain while 41 carry loss waka!
Guess wetin? Nestle Nigeria don carry first for gainer dem, posting a fine 10 per cent gain to close for N2,153.80 per share. E no stop there, NCR Nigeria also follow, gain come be 9.97 per cent to close for N116.90. Jaiz Bank follow dem, rise by 9.92 per cent to N8.20. Morison Industries dey flex too, gain 9.90 per cent to close for N5.66. Na real party dey happen!
But no be all gainer o, McNichols na the biggest wahala for the day, e fall almost cry reach 9.99 per cent to land for N6.58 per share. E dey carry Caverton Offshore Support Group along wey fall 9.47 per cent to N7.65. Ikeja Hotel and FTN Cocoa Processors sef dey follow back waka, dem lose 9.43 per cent to N35.05 and 9.38 per cent to N7.05 respectively. Na so e be, some dey gain and some dey fall; na our market be dat!
For trading volume, Sovereign Trust Insurance dey wave flag as dem lead the day with 245 million shares exchanged. Access Holdings no dey sleep, dem follow with 78.4 million shares, Zenith Bank dey shine too with 72.4 million, and Jaiz Bank dey flex with 53.7 million shares. Analyst dey talk say the rally wey happen na because investors don get fresh interest for consumer products and some banking stocks due to wetin dem dey expect for earnings growth, even as macroeconomic wahala still dey hang around.
Do you have a news tip for NNN? Please email us at editor @ nnn.ng
