The Nigerian Stock Exchange (NSE) yesterday resumed gaining streak as activities on the shares of blue chip companies led gainers to lift the overall performance indices after a marginal drop the previous day.
The twin performance gauges, NSE ASI and market capitalisation, increased by 0.58 per cent even as most sectored gauge closed in the green.
Market watchers attributed the resurgence of bulls to investors taking position on low prices of stocks.
Consequently, the All-Share Index grew by 204.85 basis points or 0.58 per cent to close at 35,516.21 index points as against 35,311.36 recorded the previous day, while the market capitalisation of equities appreciated by N75 billion or 0.58 per cent.
Meanwhile, a turnover of 339.6 million shares in 3,394 deals was recorded in the day’s trading.
The Insurance sub-sector of the financial services segment was the most active (measured by turnover volume) with 107.8 million shares exchanged by investors in 172 deals.
Volume in the sub-sector was largely driven by activities in the shares of Continental Reinsurance Plc and Mutual Benefits Insurance Plc.
Also, the banking sub- sector, boosted by activities in the shares of Skye Bank Plc and GTB Plc followed with a turnover of 33.6 million shares transacted in 592 deals.
Shares of Portland Paints Plc led the gainers with a gain of 9.72 per cent to close at N2.71 per share. Jaiz Bank Plc rose by 9.62 per cent to close at 57 kobo per share, while Caverton Plc added 9.60 per cent to close at N1.74 per share.
On the flip side, shares of Ikeja Hotels Plc led the losers with a loss of 9.92 per cent to close at N2.27 per share. Law Union and Rock Assurance Plc plunged 9.88 per cent to close at 73 kobo per share, while NPF MFB Plc dropped 9.38 per cent to close at N1.45 per share.