NSE Index rebounds with modest gain

After recording significant decline at the end of trading activities on Thursday, the major indicators of the Nigerian Stock Exchange recorded a modest rebound on Friday.

At the close of trading activities, the NSE’s All-Share Index rose by 0.02 per cent from 38,944.62 basis points to 38,952.47 points.

Similarly, the market capitalisation of the listed equities increased by 0.02 per cent or to N12.512tn up from N12.509tn recorded the preceding day.

The NSE-30 Index and the NSE Banking Index rose from 1,748.55 and 384.28 points on to close on Friday at 1,748.25 and 385.45 basis points respectively.

Also, the NSE Insurance Index and the Oil/Gas Index rose from 142.16 points and 297.55 points to close at 143.28 points and 305.61 basis points in that order.

However, the NSE Consumer Index recorded marginal decline, as it dropped from 970.45 points to 960.71 points.

Forte Oil Plc recorded the highest price appreciation of the day, rising by 10.18 per cent or N9.61 kobo to close at N104 per share.

Chams Plc gained 5.7 per cent or three kobo to close at 56 kobo per share, while Wapic Insurance Plc rose by 3.5 per cent to close at 88 kobo per share.

IPWA Plc and Costain West Africa Plc rose by 3.5 per cent and 3.1 per cent, to close at 59 kobo and N1.66 per share respectively, while Courteville Plc and Fidelity Bank Plc gained five per cent each to close at 72 kobo and N2.29 per share in that order.

Neimeth International Pharmaceuticals Plc, on the other hand, lost the highest price for the day, shedding 4.8 per cent or nine kobo to close at N1.76 per share.

Guinness Nigeria Plc also lost 4.5 per cent or N8.27 to close at N171.73 per share.

International Energy Insurance Plc also lost 4.5 per cent or three kobo to close at 64 kobo per share, while Red Star Express Plc fell by 4.4 per cent or two kobo to close at 4.28 kobo per share.

At the end of the day’s trading, the total value of the stocks exchanged on the floors of the NSE was N3.22bn, representing a loss by 8.23 per cent compared to N3.51bn recorded the previous day.