Economy

NSE market indices rose by 0.54% after Eid-el Malud celebration

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Nigerian equities market resumed trading for the week on Tuesday with a growth of 0.54 per cent after Monday public holiday declared by the Federal Government to mark 2019 Eid-el Malud celebration.


Specifically, the market capitalisation inched N69 billion or 0.54 per cent to close at N12.878 trillion against N12.809 trillion recorded on Friday.

Similarly, the All-Share Index improved by 141.90 points or 0.54 per cent to close at 26,456.39 compared with 26,314.49 achieved on Friday.

A breakdown of the price movement chart indicates that Cement Company of Northern Nigeria dominated the gainers’ table, gaining N1.60 to close at N19.10 per share.

Dangote Cement followed with a gain of N1.40 to close at N147.20, while Nigerian Breweries garnered 70k to close at N47.20 per share.

Access Bank added 35k to close at N9.55, while UACN gained 30k to close at N6.50 per share.

Conversely, Lafarge Africa recorded the highest price loss, shedding 55k to close at N14.15 per share.

FBN Holdings trailed with a loss of 20k to close at N5.60, while Ecobank Transnational lost 10k to close at N6.90 per share.

Ikeja Hotel was down by 9k to close at N0.88, while FCMB Group declined by 6k to close at N1.80 per share.

However, the volume of shares traded lower as investors staked 378.35 million shares valued at N7.15 billion in 4,798 deals.

This was against 432.47 million shares worth N5.58 billion transacted in 4,002 deals on Friday.

Zenith Bank emerged the toast of investors, exchanging 86.55 million shares valued at N1.52 billion.

It was followed by Access Bank accounting for 73.03 million shares worth N682.92 million, while Guaranty Trust Bank sold 37.13 million shares valued at N1.06 billion.

The Nigerian Breweries accounted for 36.02 million shares worth N1.69 billion, while Fidelity Bank traded 17.71 million shares worth N33.15 million.

Edited by Olawumi Ashafa/Olagoke Olatoye

https://nnn.ng/nse-market-indices-rose-by-0-54-after-eid-el-malud-celebration/

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