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NSE consolidates gains as indices soar 1.37 per cent, ASI crosses 38,000pts

In consolidation of the growth achieved in the first trading session (Monday) in the month of December, the Nigerian stock Exchange market indices have further appreciated by 1.37 per cent on Tuesday December 5th 2017.

The market capitalisation rose N181 billion on Tuesday to complement the N11 billion or 0.08 per cent growth recorded on Monday, thus closing at N14.406 trillion while the All Share Index settled at 38,494.43 basis points, bringing year to date returns to an impressive 43.24 percent.

Learn Africa led the day’s 32 gainers with an appreciation of 8.25 per cent to close at N1, 05 per share.

Cadbury followed with a gain of 7.37 per cent to close at N15.30, while FCMB gained 7.08 per cent to close at N1.21 per share.

FBN Holdings increased by 5.33 per cent to close at N7.71, while Dangote Flour added 5.17 per cent to close at N11.18 per share.

Conversely, Continental Re-insurance led 11 declining stocks with a loss of 5 percent to close at N1.33 per share.

Chellaram shed 4.94 to close at N3.08, while Forte Oil dipped 3.91 per cent to close at N43.23 per share.

AIICO lost N3.57 to close at 54 kobo, while Champion Breweries dropped 1.87per cent to close at N2.10 per share.

Custodian and Allied Insurance emerged the toast of investors trading 90.1 million shares worth N338 million.

Guaranty followed with the exchange of 57 million shares, valued at N2.45 billion, while Fidelity Bank sold 53 million shares worth N114.1 million.

Diamond transacted 46.9 million shares valued at N65.25 million, while Zenith Bank exchanged 42.8 million shares worth N1.1 billion.

In all, investors bought and sold a total of 522.4million shares worth N7.5 billion in 5,150 deals as against 500.19 million shares valued at N6.36 billion transacted in 4,966 deals on Monday.

Adesola Afolabi

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