The Nigerian Stock Exchange (NSE) extended its bullish run on Wednesday as Zenith Bank led both top gainers’ chat and most traded stocks for the day.
Investors traded 650.549 million shares valued at N2.287 billion exchanged in 3,952 transactions during the trading hours of Wednesday.
The market value of the Exchange rose by 0.76 percent or N140.04 billion to close at N18.551 trillion while the NSE All-Share Index gained the same 0.76 percent or 35,493.15 index points.
Surged in prices of Nestle, Flour Mills, Zenith Bank Guinness and GTBank boosted the Nigerian Stock Exchange on Wednesday.
Jaiz Bank led the most traded equities with 414,976,708 shares worth N216,962,758.06. This was followed by Mansard with 19,335,784 shares estimated at N472,710,228.15.
Presco Plc to Hold Emergency Meeting to Recommend Acquisition of Private Company to Shareholders
Presco Plc, an agro-industrial company, has notified shareholders of the company, the Nigerian Exchange Group and the investing public that the Board of Directors of Presco Plc will hold an emergency meeting on Thursday 24th June, 2021 to recommend for the shareholders to consider the acquisition of an existing private company through shares.
The existing private company, according to a statement signed by Patrick Uwadua Esq., Company Secretary, Presco Plc, is in the same line of business with Presco Plc.
Presco said once considered, a resolution will be passed at the company’s next General Meeting to authorise the acquisition of all the shares of the existing private company.
Meanwhile, the company commenced its closed period on today, Wednesday 16 June 2021 until 24 hours after the decisions taken at the Board Meeting are released to the public.
Cornerstone Insurance, Morison, Others Lead Gainers as Stock Market Gains
Nigerian Exchange Group rebounded from 1.66 percent decline recorded on Tuesday to close with 0.15 percent gain on Wednesday as more stocks closed in the green.
Investors traded 302,722,917 shares valued at N2.809 billion during the trading hours of Wednesday, against the 297.35 million shares worth N3.65 billion that were exchanged in 4,402 deals on Tuesday.
Market value of listed stocks appreciated from N20.07 trillion on Tuesday to settle at N20.099 trillion on Wednesday.
Nigerian Exchange Group All-Share Index gained 0.15 percent from 38,507.29 index points on Tuesday to 38564.70 index points on Wednesday.
Cornerstone Insurance led gainers with 10 percent, while Morison followed with 9.68 percent as shown below. Sterling bank emerged the most traded stocks with 37473362.00 shares valued at N57825053.65.
|CORNERST||N 0.50||N 0.55||0.05||10.00 %|
|MORISON||N 1.24||N 1.36||0.12||9.68 %|
|LEARNAFRCA||N 0.92||N 0.98||0.06||6.52 %|
|AFRIPRUD||N 6.05||N 6.40||0.35||5.79 %|
|COURTVILLE||N 0.20||N 0.21||0.01||5.00 %|
|ABBEYBDS||N 1.05||N 0.95||-0.10||-9.52 %|
|CHIPLC||N 0.74||N 0.67||-0.07||-9.46 %|
|CWG||N 1.24||N 1.15||-0.09||-7.26 %|
|WAPIC||N 0.57||N 0.53||-0.04||-7.02 %|
|REGALINS||N 0.48||N 0.45||-0.03||-6.25 %|
Stock Market Gains N230 Billion Last Week
The Nigerian Exchange Limited gained N230 billion last week as more stocks closed in the green.
The market value of listed stocks and the Nigerian Exchange Limited All-Share Index expanded by 1.11 percent to close the week at N20.41 trillion and 39.156.28 index points, respectively.
Investors traded 1.06 billion shares valued at N12.8 billion in 17,854 transactions during the week, against a total of 1.08 billion shares worth N9.55 billion were traded in 17,933 transactions in the previous week.
In terms of volume traded, the financial services industry led the activity table with 714.677 million shares estimated at N5.95 billion traded in 9,718 transactions. Therefore, contributing 67.53 percent and 46.38 percent to the total equity turnover volume and value traded, respectively.
This was followed by the consumer goods industry with 97.18 million shares estimated at N3.29 billion in 3,006 transactions.
In third place was the ICT industry with a turnover of 75.99 million shares valued at N583.72 million in 679 deals.
The top three most traded stocks (measured by volume) were Zenith Bank Plc, Sterling Bank Plc and Fidelity Bank Plc. The three accounted for 261.34 million shares valued at N2.71 billion and traded in 2,862 deals. The top three most traded equities in the week contributed 24.70 percent and 21.13 percent to the total equity turnover volume and value.
During the week, 35 stocks closed in the green, against 33 posted in the previous week. A total of 36 equities rose as against 33 equities in the previous week, while 89 equities remained unchanged as against 94 in the previous week.
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