..As Forte Oil, Unilever buoy trading higher 0.12%
Stories by Chinwendu Obienyi
Transactions on the trading floor of the Nigerian Stock Exchange (NSE), yesterday opened on a bullish note as the All Share Index (ASI) recorded its 8th consecutive gain up by 0.12 per cent to close at 33,301.43 thesis points while market capitalisation rose by N10 billion to berth at N11.47 trillion.
The consumer goods sector bolstered the local bourse to a mild positive start in the third week of July after three major indices fell in the negative territory at the end of Monday’s trading in contrast to the marginal fall of 0.01 per cent it recorded last week.
Market breadth, however, remained positive as the day’s trading saw an impressive turnover of 322.81 million units of shares sold in 3,830 deals for over N2.7 billion with 23 stocks advanced and 26 others declined.
Unilever Plc led other gainers with an impressive 10.24 per cent to close at N36.38 per share. Forte Oil fared better, appreciating by 7.71 per cent to close at N60.50 while 7up increased by 6.41 per cent to close at N94.95 per share. Champion and Flour Mill grew by 6.00 and 5.00 per cent to close at N2.65 and N26.25 per cent respectively.
Oando Plc, however, fell by -9.54 per cent to close at N6.83 to lead the laggards. NASCON followed with a drop of -4.95 per cent to close at N9.03 per share while AIICO Insurance and Skye Bank lost -4.92 per cent each to close at 0.58 kobo per share.
Further analysis showed that Niger Insurance contributed to half of the total volume of shares amounting to 150.05 million shares valued at N75.03 million. FBN Holdings followed with 35.97 million shares worth N213.76 million; FCMB came in third place with 14.85 million shares worth N17.95 billion, UBA traded 14.19 million shares valued at N125.23 million while Flour Mill transacted 12.26 million shares worth N320.38.