NSE’s market capitalisation appreciates further by N41 billion

Nigerian Stock Exchange

Nigerian Stock Exchange

Equity transactions on the trading floor of the Nigerian Stock Exchange continued in an upbeat yesterday, occasioned by price gains recorded by most blue chip companies, as market capitalisation rose marginally by N41 billion.

Yesterday, the market capitalisation of listed equities increased by N41 billion from N10.456 trillion recorded on Tuesday to N10.497 trillion while NSE All Share Index went up by 117.07 basis points or 0.38 per cent to 30543.17 points from 30426.10 points traded the previous day.                                 
On the price movement chart, Forte Oil Plc led gainers table, growing by N8.90 kobo to close at N239.99 kobo, Dangote Cement followed with a gain of N1.50 kobo to close at N169.50 kobo, Stanbic IBTC gains N1.05 kobo to close at N22.12 kobo, Wapco increased by N0.54 kobo to close at N98.00 while UAC property grew by N0.37 kobo to close at N7.79 kobo.

On the Contrary, Okomu Oil Palm topped losers chart, dropping by N0.85 kobo to close at N28.10 kobo, UAC of Nigeria trailed with a loss of N0.66 kobo to close at N30.00, Ashaka Cement declined by N0.48 kobo to close at N22.02 kobo, Guinness Nigeria Plc fell by N0.45 kobo to close at N154.00 and Vitafoam dropped by N0.29 kobo to close at N5.55 kobo.   

The Nigerian Stock Exchange trading result showed that volume of activities grew by 259.349 million as investors traded 466.940 million shares worth N4.367 billion in 2994 deals representing an increase of 124.9 percent over 207.591 million shares valued at N3.136 billion exchanged hands the previous day in 3262 deals,

Further analysis showed that Zenith International Bank led activities in volume terms, trading 131.645 million shares worth N2.406 billion, Sterling Bank followed with exchange of 61.888 million shares valued at N128.738 million.

Aso Savings and Loans traded 40.501 million shares valued at N20.250 million. United Bank for Africa (UBA) sold 38.769 million shares worth N164.132 million while Law Union and Rock Insurance traded 30.250 million shares valued at N15.125 million.

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