NSE All-Share Index inches 31,000 mark, amid massive gains

Massive gains recorded by major equities on the Nigerian Stock Exchange  (NSE) on Friday moved the All-Share Index to     31, 000  mark.
The market for the fourth consecutive days maintained a bullish trend with the index growing by 1,057.49 points or 3.49 per cent to close at 31,371.63 as against 30,314.14 on Thursday.
Similarly, the market capitalisation which opened at N10.479 trillion rose by N366 billion or 3.49 per cent to close at N10.845 trillion.
The price rally moved the market indices to 21-month high.
Nestle Nigeria recorded the highest price gain, leading the gainers’ chart with N43.75 to close at N918.76 per share.
 
Dangote Cement trailed with N9.18 to close at N192.93 and Conoil improved by N3.45 to close at N37.35 per share.
 
CAP rose by N3.28 to close at N35.33, while Nigerian Breweries inched N3.15 to close at N 160.05 per share.
 
Conversely, Mobil Oil topped the losers’ chart, dropping by N8.87 to close at N290 per share.
 
UPL trailed with a loss of 20k to close at N3.83, while Custodian and Allied Insurance shed 10k to close at N3.60 per share.
Law Union and Rock Insurance lost 8k to close at 90k and C I Leasing dipped 3k to close at 66k per share.
 
Also, the volume of shares traded appreciated by 63.07 per cent with a total of 708.41 million shares worth N8.26 million transacted in 6,039 deals.
 
This was against a turnover of 434.48 million shares valued at N4.63 billion traded in 5,107 deals on Thursday.
 
Diamond Bank remained the toast of investors accounting for 132.48 million worth N146.92 million.
 
It was followed by FBN Holdings with 112.81 million shares valued at N722.58 million, while UBA accounted for 96.48 million shares worth N806.74 million.
Access Bank sold 60.22 million shares valued at N537.37 million and FCMB Group traded 60.14 million shares worth N75.71 million.