Activities may have finally bounced back on the Nigerian Stock Exchange (NSE), after the six-day strike called by the Nigeria Labour Congress (NLC) over subsidy removal, as the market indicators rose on Tuesday by 1.2 per cent. The rise in the twin market indicators in the day has been variously attributed by market experts to dealing members (stockbrokers) returning to the floor of the exchange to trade, as against the remote trading they engage in when the nation economy was short down during the strike.
Specifically, the All-Share Index climbed by 247.6 basis point or 1.2 per cent to close at 21,072.27 while the market capitalisation appreciated by N78 billion or 1.2 per cent to activities in the day at N6.640 trillion.
A further review of transaction in the day showed that 25 companies were on the gainers’ table while 17 others were listed on the laggard for want of poor patronage in the days trading.
Cement Company of Northern Nigeria Plc, PZ Cusson Plc, Julius Berger and Nigerian Breweries led the gainers chart after appreciating by 5.00 per cent to close at N5.25, N29.40, N33.18 and N98.76 per share. Enteroil rose by 4.96 per cent to close the day at N2.75 to complete the list of top five gainers in the day.
Conversely, Dangote Flour depreciated by 5 per cent to close the day at N5.89 while Union Bank of Nigeria fell by 4.97 per cent to close N9.57.
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