NSE: Market capitalisation rises by N24 billion

Factual Pursuit of Truth for Progress


By Francis Ogwo

The Nigerian Stock Exchange has revealed on Wednesday that the All-Share Index extended its growth by 0.11 per cent.

This means that the All-Share Index improved further by 45.10 points or 0.11 per cent to close at 40, 341.05 against 40, 295.95 achieved on Tuesday.

Similarly, the market capitalisation rose by N24 billion or 0.11 per cent to close at N21.094 trillion from N21.069 trillion posted on Tuesday.

Observers say the gain was as a result of price appreciation in medium and large capitalised stocks amongst which were: Mobil, Flour Mills, BOC Gases, Seplat and Ardova.

Market breadth also closed positive with 32 gainers compared with 16 losers.

On the gainers chart, Academy Press, Sovereign Trust Insurance and Veritas Kapital Assurance maintained the lead in percentage terms, gaining 10 per cent each to close at 33k, 22k and 22k per share, respectively.

This was followed by BOC Gases with 9.92 per cent to close at N12.52, while Champion Breweries rose by 9.80 per cent to close at N1.12 per share.

Chellarams however led the losers’ chart in percentage terms losing 9.96 per cent to close at N2.26 per share. This is with Livestock Feeds following with a loss of 9.74 per cent to close at N1.76, while Consolidated Hallmark Insurance shed 8.82 per cent to close at 31k per share.

FTN Cocoa shed 5.88 per cent to close at 64k, while Cutix lost five per cent to close at N2.09 per share.

However, the total volume of shares traded declined by 59.9 per cent to 468.15 million shares valued N6.96 billion exchanged in 5,697 deals.

This was against 1.17 billion shares worth N7.97 billion transacted in 5,591 deals on Tuesday.

Transactions in the shares of Zenith Bank topped the activity chart with 45.77 million shares valued N1.19 billion.

Lasaco Assurance followed with 40.73 million shares worth N17.02 million, while United Bank for Africa traded 31.82 million shares valued N283.11 million.


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