TheCable

Equity transactions on the trading floor of the Nigerian Stock Exchange (NSE) on Wednesday ended on positive note, with market indicators appreciating.

The All-Share Index rose by 229.75 points that is 0.55 per cent to close at 41,627.43 from the 41,397.68 achieved on Tuesday, while market capitalisation rose by N76 billion to close at N13.745 trillion.

Lafarge Wapco recorded the highest price gain of N11.52 to close at N124.64 per share.

The company was trailed by Ashaka Cement, which gained N2.65 to close at N28.64, while MRS Oil appreciated by N2.19 to close at N46.35 per share.

Conversely, Total Oil led the losers’ chart, dropping N3 to close at N170 per share.

UACN followed with a loss of N1.83 to close at N60, while Oando lost N1.64 to close at N20.34 per share.

Access Bank emerged investors’ favourite stock for the day, accounting for N127.67 billion shares worth N1.26 billion.

Mbenefit followed with a total of 53.16 million shares valued at N26.58 million, while GTBank traded 33.64 million shares.

In all, the volume of shares traded rose by 28.86 per cent as investors exchanged 430.92 million shares valued at N6.52 billion in 5,569 deals.

This was against the 334.42 million shares worth N5.63 billion achieved in 56,091 deals on Tuesday.

Reports from the money market, Wednesday, indicate that the naira eased against the US dollar, as banks bought the greenback on the inter-bank market due to inadequate supply from offshore investors.

The Central Bank of Nigeria (CBN) offered N137.97 billion ($848.99 million) worth in treasury bills of 3-month and one year tenor at an auction on Wednesday, but the demand for the dollar was strong against limited supply, especially from offshore investors at the auction.

Dealers are expecting the state-owned oil company, NNPC, to sell part of its month-end dollar in the coming days to help provide liquidity and possibly strengthen the naira.