NSE market capitalisation inches N236 billion

The Nigerian Stock Exchange (NSE) recorded the first gain for the week with the market capitalisation increasing by N236 billion on Friday. The market capitalisation inched N236 billion of 1.87 per cent to close at N12.874 trillion against N12.638 trillion achieved on Thursday.

Also, the All-Share Index rose by 649.57 points or 1.88 per cent to close at 35,266.69 compared to 34,617.12 posted on Thursday. The market growth was due to price appreciation recorded by Dangote Cement which led the gainers’ chart with N14 to close at N220 per share.

Unilever followed with a gain of N2 to close at N55, while Air Services garnered 40k to close at N4. 45 per share. Cutix appreciated by 18k to close at N4.18, while Forte Oil increased by 15k to close at N23.15 per share. Conversely, Dangote Sugar topped the laggards’ chart loss with a loss of 30k to close at N14.80 per share.

NAHCO trailed with a loss of 26k to close at N3.73, while Union Bank of Nigeria lost 15k to close at N5.55 Zenith International Bank was down by 10k to at N22.85, while Lafarge Africa declined by 10k to close at N27.80 per share. In the same vein, a breakdown of the activity chart indicated that the volume of shares traded rose 57.40 per cent. Specifically, investors bought and sold 374.32 million shares worth N2.72 billion exchanged by investors in 2,875 deals.

This was in contrast of 237.81 million shares valued at N3.09 billion traded in 3,162 deals on Thursday. NEM Insurance was the toast of investors, accounting for 130.49 million shares worth N521.41 million. Mansard Insurance followed with an exchange of 94.49 million shares valued at N240.96 million, while Transcorp sold 17.41 million shares worth N19.60 million.

Zenith International Bank exchanged 15.87 million shares valued at N363.26 million, while Champion Breweries sold 10.19 million shares worth N17.40 million. Premium Times

Pix: Nigeria stock market