NSE market capitalisation up by N55bn, reverses 2 days negative trend

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Lagos  –  Activities on the Nigerian Stock Exchange (NSE) on Thursday closed upbeat, reversing the two days downward trend with the market capitalisation increasing by N55 billion.

The News Agency of Nigeria (NAN) reports that the market capitalisation which opened at N8.649 trillion rose by 0.64 per cent or N55 billion to close at N8.704 trillion due to price gains by some blue chips.

Also, the All-Share Index closed higher at 25,306.22 indicating an increase of 160.94 points or 0.64 per cent compared with 25,145.28 recorded on Wednesday.

NAN reports that Total led the gainers’ table, appreciating by N7.32 to close at N153.82 per share.

Mobil Oil followed with N5.99 to close at N161.99, while Dangote Cement inched N3.75 to close at N167.80 per share.

Julius Berger improved by N3.30 to close at N44.80 and 7UP gained N2 to close at N155 per share.

On the other hand, Seplat for the second consecutive days, led the losers’ chart, dropping by N10 to close at N300 per share.

Lafarge Africa lost N2 to close at N77, while Okomu Oil dipped N1.57 to close at N29.85 per share.

Guinness lost N1.25 to close at N104.50 and Unilever dropped 25k to close at N29 per share.

An analysis of the activity chart showed that FCMB Group emerged the most traded stock, accounting for 44.39 million shares valued at N38.09 million.

Fidelity Bank sold 34.85 million shares worth N46.24 million and Sterling Bank traded 32.43 million shares valued at N52.50 million.

GT Bank trailed with an exchange of 30.75 million shares worth N442.24 million, while FBN Group recorded 19.77 million shares valued at N61.01 million.

In all, investors staked N1.94 billion on 264.04 million shares traded in 3,298 deals against 504.21 million shares worth N2.14 billion transacted in 3,374 deals on Wednesday. (NAN)

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