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Nigeria’s equity market sustained gain for 3 consecutive day, rises 1.9%

By on November 11, 2020 0 157 Views

By Samuel Bankole

For the three consecutive day to Wednesday, Nigeria’s equity market sustained big gains on the back of buying in the banking, breweries and consumer goods sector of the market.

The market index gained 1.9 percent on Wednesday to climb to 33,268.36 points at the close of the trading, while market capitalisation rose to N17.384 trillion from N17.059 trillion in the previous day.

Also, the total volume traded closed with an exchange of 858.157 million units valued at N9.06 billion traded in 8,142 deals while the market breadth was positive with 51 gainers as against 7 losers.

The NSE 30 Index increased by 2.00 percent to close at 1,448.22 points as against 1,419.76 points in the previous day.

Market turnover closed with traded volume of 534.76 million units. Guinness and Sterling were the key gainers, while Stanbic IBTC was the only loser.

Shares in Guinness Nigeria rose 10 percent to close at N19 per share, Sterling Bank gained 10 percent to close at N2 while GSK rallied by 9.85 percent to close trading at N6.60.

The energy company, Oando rose 9.82 percent to close at N3.26, NASCON gained 9.57 percent to close at N15.45 per share while Nigerian Breweries gained 9.52 percent to close at N52.50, PZ Cusson gained 9.09 percent to close the market at N4.40 and FBN Holding gained 8.45 percent to close at N7.10 to the dollar.

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