Nigeria, bourse opens trading for May with 0.04 per cent growth

The Nigerian Stock Exchange (NSE) market indicators opened trading for the month of May with a marginal growth of 0.04 per cent.

The News Agency of Nigeria (NAN) reports on Thursday that the All-Share Index which opened at 29,159.74 rose by 11.99 points or 0.04 per cent to close at 29,171.73.

Also, the market capitalisation appreciated by five billion naira or 0.05 per cent to close at N10.963 trillion following gains posted by medium and large capitalised stocks.

A breakdown of the price movement table shows that Mobil led the gainers’ table, growing by N9 to close at N186 per share.

Guinness followed with a gain of N1.40 to close at N50, while Nigerian Breweries garnered 75k to close at N65.75 per share.

Cement Company of Northern Nigeria appreciated by 60k to close at N14.60, while Dangote Sugar increased by 15k to close at N14.05 per share.

Conversely, Presco recorded the highest loss to lead the laggards’ table, dropping by N4.75 to close at N58 per share.

Total trailed with a loss of N2.10 to close at N164, while Conoil was down by 70k to close at N20.10 per share.

Forte Oil lost 35k to close at N34.75, while Lafarge Africa declined by 25k to close at N11.20 per share.

In spite of the marginal growth in market indices, the volume of shares traded closed lower as investors bought and sold 279.62 million shares worth N2.82 billion in 4,836 deals.

This was in contrast with a turnover of 543.92 million shares valued at N8.19 billion exchanged in 4,682 deals on Tuesday.

Transcorp was the active stock during the day, exchanging 34.91 million shares worth N42.51 million.

Dangote Flour followed with an account of 23.64 million shares valued at N450.08 million, while Chams sold 20.73 million shares worth N10.71 million.

Access Bank traded 19.67 million shares valued at N135.58 million, while Japaul Oil sold 17.07 million shares worth N6.11 million.