Stock Market Sustains Bullish Run on the Back of PRESCO, MTN Nigeria

• Stock Market Sustains Bullish Run on the Back of PRESCO, MTN Nigeria

The Nigerian Stock Exchange sustained bullish run on Wednesday as PRESCO, MTN Nigeria led gainers’ table.

The NSE All-Share Index expanded by 0.10 percent to 25,407.96 basis points, up from 25,338.43 basis points it closed on Tuesday. While the market capitalisation of listed stocks rose slightly to N13.254 trillion from N13.242 trillion it closed on Tuesday.

A total of 353.329 million shares valued at N7.035 billion were exchanged in 4,659 transactions during the trading hours of Wednesday.

FBNH emerged the most traded stock with investors exchanging a total of 50.290 million shares worth N377.355 million on Wednesday.

This was followed by the Nigerian Breweries with 45.931 million unit shares valued at N2,020,820,081.70. Guaranty, Japauloil and Zenith Bank did 42.397 million, 23.101 million and 21.795 million shares worth N1,060,381,996.85, N5,995,504.95 and N373,019,743.50.

Presco led top gainers with 9.04 percent or N3.75 to close at N45.25 per share. MTN Nigeria rose by 1.29 percent from N116.5 per share to close at N118 during the trading hours of Wednesday.

Stanbic, ETI SKYAVN gained 2.15 percent or 70 kobo, 7.77 percent or 40 kobo and 9.66 percent or 0.2 kobo to settle at N33.2, N5.55 and N2.27 per shares.

On the other hand, Guinness led losers’ chart with 5 percent or N1 decline to close at N19 per share, down from N20 on Tuesday.

UACN followed with 8.33 percent or 70 kobo decline to N7.7 per share. Dangote cement also joined the list of losers with 0.35 percent or 50 kobo to N140.5 from N141 per share it traded on Tuesday.

CIleasing and PZ declined by 9.35 percent or 50 kobo and 9.43 percent or 0.5 kobo to close at N4.85 and N4.8, respectively.