Trading reverses negative trend, market capitalisation up by N155bn

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Lagos – The market capitalisation of the Stock Exchange (NSE) on appreciated by N155 billion after dropping for two consecutive days.

The News Agency of Nigeria (NAN) that the market capitalisation rose by N155 billion or 1.34 per cent close at N11.762 trillion compared with N11.607 trillion posted on Wednesday due appreciation.

A breakdown of the chart showed that Nestle, for the third consecutive day, topped the gainers’ chart, appreciating by N49.97 close at N1, 050 per share.

It was followed by Breweries having chalked up N3.98 close at N155.58, while Cement garnered N1.99 to close at N180 per share.[pro_ad_display_adzone id=”10″]

UAC Property increased by 42k to close at N10.97, while Zenith rose by 39k to close at N23 per share.

Consequently, the All-Share Index rose by 344.90 points or 1.01 per cent to close at 34,520.14 against 34,175.24 achieved on Wednesday.

On the hand, Seplat led the losers’ chart, with a loss of N10.68 to close at N370 per share.

Mobil Oil trailed with a loss of N7.37 to close at N154.13, while Ashaka Cement dropped by N2.08 to close at N19.32 per share.

Okomu Oil Palm lost N1.25 to close at N25.63, while International Breweries N1.08 to close at N20.58 per share.

However, the turnover volume of traded closed, lower with an exchange of 601.18 valued N4.17 billion transacted 5,724 deals.

This was against 704.06 billion worth N4.66 billion traded 6,742 deals on Wednesday.

Standard Alliance Insurance was the toast of investors with 200.64 shares valued N100.33 traded 11 deals.

FCMB came second with 59.86 shares worth N192.29 transacted in 207 deals, while FBN Holdings accounted for 58.69 shares valued N550.51 million achieved in 949 deals.

Zenith sold 48.61 million shares worth N1.12 billion traded in 424 deals and Transcorp traded 46.44 million shares worth N142.39 million in 399 deals. (NAN)