Stock Market Closes Flat as 22 Stocks Appreciate

The Nigeria Stock Exchange closed flat on Wednesday after a 0.02 per cent gain. Market capitalisation rose marginally by N1bn to close at N9.691tn from N9.690tn recorded on Tuesday.

The All-Share Index also closed at 28,214.57 basis points from 28,209.93 basis points.

A total of 3.095 billion stocks valued at N6.24bn exchanged hands in 2,815 deals.

Conoil Plc, PZ Cussons Plc, Oando Plc, Wema Bank Plc and May and Baker Nigeria Plc emerged as the top five gainers. Conoil shares appreciated by N3.91 (10.11 per cent) to close at N42.60 from N38.69.

The share price of PZ Cussons appreciated by N0.90 (4.98 per cent) to close at N18.97 from 18.07, while that of Oando posted a N0.26 (4.87 per cent) gain to close at N5.60 from N5.34.

The shares of Wema Bank Plc closed at N0.65 from N0.62, appreciating by N0.03 (4.84 per cent), while May and Baker recorded a gain of N0.04 (4.30 per cent) on its share price to close at N0.97 from N0.93.

Other gainers were Cutix Plc, Cadbury Nigeria Plc, MRS Plc, Diamond Bank Plc, Stanbic IBTC Holdings Plc, Zenith Bank Plc, Continental Reinsurance Plc, Eterna Plc, Champion Breweries Plc, FBN Holdings Plc and Custodian and Allied Plc.

Total Nigeria Plc, African Prudential Registrars Plc, Union Bank of Nigeria Plc, United Bank of Africa Plc, Unilever Nigeria Plc and Nestle Nigeria Plc also emerged as gainers.

From the NSE data, 22 stocks recorded gains, while 13 stocks depreciated.

Leading the losers’ chart were Neimeth International Pharmaceutical Plc, Guinness Nigeria Plc, ETranzact International Plc,  Paints and Coatings Manufacturers  Nigeria Plc and Skye Bank Plc.

The shares of Neimeth depreciated by N0.10 (9.26 per cent) to close at N0.98 from N1.08, while the share price of Guinness plunged to N93 from N100, losing N7 (seven per cent).