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NSE market capitalisation increases further by N76bn
The Nigerian Stock Exchange (NSE) continued on its bullish trajectory on Wednesday for the second consecutive day, with the market capitalisation increasing by N76 billion.
Market capitalisation of Africa’s third largest bourse opened at N10.121 trillion as trading commenced on Wednesday, rising 0.75 per cent to N10.197 trillion when trading closed.
Similarly, the All-Share Index rose 0.76 per cent to 29,498.31 from Tuesday level as blue chips buoyed the market.
An analysis of the price movement indicated that Dangote Cement led the gainers’ table. The stock appreciated by N7.90 to close at N175 per share.
Nestlé followed with a gain of N5.01, closing at N875.01; and Total rose by N5 to close at N265 per share.
Nigerian Breweries advanced by N3.50 to close at N149.50, while Unilever increased by N1.74, to close at N37.49 per share.
On the other hand, Seplat topped the losers’ chart, dropping by N81.51 to close at N351.99 per share.
7UP trailed with a loss of N4.98 to close at N94.77 and Guaranty Trust Bank shed N1.78 to close at N34.01 per share.
Stanbic IBTC lost 75k to close at N26, while Zenith International Bank declined by 55k to close at N18.95 per share.
The banking equities maintained leadership as the most sought after, with FBN Holdings recording the highest volume, trading 62.19 million shares worth N318.89 million.
It was followed by Diamond Bank with an exchange of 41.86 million shares valued at N40.38 million and Fidelity Bank traded 38.78 million shares worth N40.72 million.
United Bank for Africa exchanged 34.95 million shares valued at N264.76 million, while Zenith International Bank sold 26.57 million shares worth N506.29 million.
In all, the volume of shares traded dropped by 58.78 per cent, with a turnover of 343.19 million shares valued at N3.34 billion transacted in 4,905 deals.
This was in contrast with the 832.52 million shares worth N7.59 billion transacted in 6,259 deals on Tuesday.
