NSE Gains N11 Billion on Thursday

Forex Market
  • NSE Gains N11 Billion on Thursday

The Nigerian Stock Exchange (NSE) gained 0.1 percent on Thursday despite the drop in trading activity due to lockdown.

The bourse was broadly negative as 19 stocks closed in the red with only seven equities recording gains.

However, the surged in interest in Dangote Cement Plc, the nation’s most capitalised listed company, boosted the entire exchange on Thursday.

The market capitalisation of listed equities expanded by 0.1 percent or N11 billion from N10.996 trillion it closed on Wednesday to N11.007 trillion on Thursday, while NSE All-Share Index gained 20.66 basis points or 0.1 percent to close at 21,121.20, up from 21,100.54.

The activity level was low as traders were forced to trade online due to the lockdown directive of the Federal Government.

“Dangote Cement Plc led the gainers’ table with a gain of 9.93 per cent to close at N128.40 per share while Livestock Feeds Plc followed with a gain of 9.38 per cent to close at 70 kobo per share. GlaxoSmithKline Consumer Nigeria Plc added 9.09 per cent to close at N4.80 per share.

“On the other hand, Nigerian Breweries Plc led the price losers’ table, dropping 9.27 per cent to close at N22.50 per share. Honeywell Flour Plc followed with 8.16 per cent to close at 90 kobo per share while International Breweries Plc trailed with a loss of 6.54 per cent to close at N5.00 per share.”

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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