Shares volume surge by 337% at NSE

By Chinyere Joel-Nwokeoma

The volume of shares traded on the Nigerian Stock Exchange (NSE) on Friday surged by 337 per cent as investors bought and sold 874.34 million shares valued at N4.39 billion in 3,387 deals.

The News Agency of Nigeria (NAN) reports that this was in contrast with 199.98 million shares worth N1.50 billion achieved in 3,313 deals on Thursday.

Union Bank of Nigeria (UBN) was investors’ delight with an exchange of 611.96 million shares valued at N2.67 billion.

It was followed by United Bank for Africa (UBA), having accounted for 38.80 million shares worth N174.59 million, while NEM Insurance sold 24.49 million shares valued at N19.84 million.

Mansard Insurance exchanged 23.20 million shares worth N39.38 million and Fidelity Bank transacted 20.35 million shares valued at N17.92 million.

Also, the market indices maintained an upward movement with the All-Share Index appreciating by 148.09 points or 0.55 per cent to close at 26,707.10 compared with 26,559.01 posted on Thursday.

Similarly, the market capitalisation which opened at N9.138 trillion inched N51 billion or 0.56 per cent to close at N9.189 trillion.

NAN reports that Dangote Cement topped the gainers’ chart with a gain of N4.27 to close at N170 per share.

ETI improved by 89k to close at N12.04 and CCNN gained 20k to close at N4.24 per share.

UBN garnered 20k to close at N4.56, while Custodian and Allied Insurance improved by 18k to close at N3.96 per share.

On the other hand, Forte Oil led the losers’ chart, dropping by N12.54 to close at N116.24 per share.

Unilever trailed with a loss of N4.27 to close at N39.57 and Mobil Oil dropped by N4.05 to close at N280 per share.

Beta Glass lost N1.60 to close at N30.40, while International Breweries dipped 94k to close at N18 per share.