Market indices appreciate as NSE bags awards

Salamatu Ejembi, Lagos

The Nigerian Stock exchange has resumed market activities for the week on Wednesday after the long weekend which commemorated the end of the Muslim annual Ramadan feasting.

The market started its weekly activities with a couple of notable positives.

Firstly, activities on the floor of the exchange closed on Wednesday with a gain of 1.67 per cent.

Then the NSE won the Employer of Choice Award, 2016 for the second consecutive year in the “Under 1,000 Employees” category.

Finally, the Chief Executive Officer of the NSE, Oscar N. Onyema, OON, was named the 2016 HR Champion of the year, emerging winner ahead of CEOs of United Capital Plc and Unilever Nigeria Plc.

According to the organisers of the awards, the HR People Magazine Awards is an annual event designed to recognise companies and individuals for their outstanding contribution to the HR profession.

They noted that eight organisations were shortlisted for further screening for the Employer of Choice Award (Under 1,000 Employees category), out of which the final top four contenders, MainOne, DHL Nigeria, Airtel Nigeria and The Nigerian Stock Exchange, were selected.

On the market scene, Wednesday market capitalisation closed at 11.293 trillion Naira gaining 185 billion Naira as compared to 11.108 trillion Naira on Friday.

The NSE All Share Index on the other hand closed today at 32,657.30 basis points gaining 535.16 basis points as compared to 32,122.14 basis points on Friday.

Investors exchanged a total of 3.7 million shares worth 3.3 billion Naira in 4,372 deals.

26 stocks appreciated, 21 depreciated while all others closed flat.


UNITED BANK FOR AFRICA PLC emerged as the top gainer in today’s market by 0.68 kobo or 8.17 per cent when it closed at N9.00 per share as against previous closing price of N8.32 per share.

N.E.M INSURANCE CO (NIG) PLC followed with a gain of 0.07 kobo or 7.37 per cent to close at N1.02 per share as compared to previous closing price of 0.95 kobo per share.

While DIAMOND BANK PLC closed with a 0.07 kobo or 6.19 per cent gain to close at N1.20 per share as against previous closing price of N1.13 per share.


Topping the losers’ chart is JULIUS BERGER NIG. PLC with a closing price of N39.45 per share losing N2.07 or 4.99 per cent when compared to previous closing price of N41.52 per share.

Following right after is OKOMU OIL PALM PLC with a previous closing price of N61.56 per share to close today at N58.49 per share, losing N3.07 or 4.99 per cent.

UNILEVER NIGERIA PLC emerged in the top three losers table when it fell by N2.14 or 4.98 per cent to close at N40.85 per share as against previous closing of N42.99 per share.

Ime N