Business

NSE closes with 1.72% growth for Easter holidays

Activities on the Nigerian Stock Exchange (NSE) on Thursday rebounded to close for Easter holidays with a growth of 1.72 percent after three-consecutive days negative trading,

The market recorded the first growth in the week with the market capitalization rising by N252 billion in a day, to close at N14.992 trillion against N14.740 trillion on Wednesday.

Also, the All-Share Index which opened at 40,802.08 inched 702.43 points or 1.72 percent to close at 41,504.51 following gains by some blue chips.

According to reports, the market would reopen on April 3 following the March 30 and April 2 public holidays declared by the Federal Government to mark Easter celebrations.

A breakdown of the price movement table showed that Nestle led the gainers’ table during the day, appreciating by N39.70 to close at N1,380 per share.

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Total followed with a gain of N10.70 to close at N249, while Mobil Oil recorded a gain of N8.80 to close at N185.80 per share.

Dangote Cement appreciated by N7 to close at N260, while Nigerian Breweries added N2 to close at N130 per share.

On the other hand, Lafarge Africa posted the highest loss to lead the laggards’ table, shedding N1.10 to close at N45.30 per share.

Cement Company of Northern trailed with a loss of 95k to close at N18.70, while Zenith International Bank declined by 50k to close at N29.30 per share.

Champion Breweries depreciated by 18k to close at N2.40, while C &I Leasing also went down by 18k to close at N1.72 per share.

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Zenith International Bank was the most active stock for the day, trading 45.34 million shares worth N1.35 billion.

Skye Bank followed with an account of 33.90 million shares valued at N26.13 million, while United Bank of Africa sold 22.48 million shares worth N263.48 million.

Fidelity Bank exchanged 16.33 million shares valued at N41.88 million, while Access Bank sold 15.71 million shares worth N175.65 million.

However, the volume of shares transacted dropped by 49.06 percent as investors bought and sold 272.61 million shares valued at N3.72 billion in 4,368 deals.

This was in contrast with a total of 535.19 million shares worth N3.66 billion traded in 4,717 deals on Wednesday.

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