Equity market improves by N545bn

Transactions on the floor of the Nigerian Stock Exchange (NSE) yesterday continue with growth profile following gain recorded by blue chip companies. The value of equities appreciated by N545 billion or 5.0 per cent to N11.402 trillion from N10.857 trillion recorded in the previous day.      Also the NSE All Share Index went up by 1642 basis points to 34428.82 points from 32786.00 trade on Tuesday.    A review of the investment showed that investors bought shares worth 581.902 million shares valued at N3.205 billion in 3448 deals against 440.812 million shares valued at N4.105 billion exchanged handed the previous  day in 4964 deals.          Nestle Nigeria Plc led gainers chart, advancing by N52.42 kobo to close at N930.00, Seplat Petroleum Development followed with a gain of N29.93 kobo to close at N322.11 while Dangote Cement, Guinness Nigeria Plc and Nigerian Breweries appreciated by N18.19 kobo, N14.11 kobo and N9.23 kobo respectively to close at N196.65 kobo, N151.87 kobo and N160.98 kobo.      On the contrary, 7UP topped losers table, dropping by N1.70 kobo to close at N160.00, Okomuoil trailed with a loss of N0.90 kobo to close at N24.80 kobo while UACN depreciated by N0.55 kobo to close at N35.45 kobo. Other companies that recorded price depreciation include Sterling Bank and Honey Well Flour Mills which fell by N0.10 kobo each to close at N2.33 kobo and N3.40 kobo respectively.
The trading result further showed that financial service sector led activities for the day in volume terms, accounting for 468.768 million shares worth N1.993 billion in 1807 deals. Other financial Institution was most active during the day with account of 199.445 million shares worth Nx15.863 million transacted in 661 deals. FCMB Group was the toast of investors in the sub sector with a total of 158.369 million shares valued at N441.607 million in 150 deals. Banking  sub sector came second in  the sector with account of N148.362 million shares valued at N1.108 billion in 1081 deals. Diamond Bank was the investors delight selling 51.383 million shares valued at N295.304 million in 46 deals and United Bank of Africa traded 42.562 million shares worth N212.688 million in 285 deals.