NSE market capitalisation increases by N59bn

The market capitalisation of the Nigerian Stock Exchange (NSE) on Wednesday grew by N59 billion or 0.46 per cent, to close at N12.889, from the N12.830 trillion recorded on Tuesday. The All-Share index, however, dropped by 214.24 basis points or 0.54 per cent, to close at 39,194.09 from the 39,408.33 posted on Tuesday. The depreciation of the index is as a result of price losses by major equities.

Nestle topped the losers’ chart by N11t, to close at N1,100 per share. Seplat lost N6.46 to close at N627, while Okomu Oil dipped by N1.10 to close at N36.70 per share. UACN and International Breweries decreased by 49k each, to close at N59.01 and N26.01, respectively. Conversely, Total led the gainers’ chart by N3.90, to close at N167.90 per share. Dangote Cement came second on the gainers’ chart by N2.11, to close at N230, while CAP increased by N2 to close at N42 per share.

Guinness gained N2 to close at N199, while Unilever appreciated by N1.75, to close at N46.50 per share. The volume of shares traded declined marginal by 4.22 per cent, due to the exchange of 356.52 million shares worth N5.27 billion traded in 5,221 deals.

This was against the 372.43 million shares valued at N4.96 billion transacted in 4,984 deals.

A breakdown of the activity chart indicated that the banking equities remained the investors’ delight, as FBN Holdings emerged the most-traded stock.

It accounted for 127.179 million shares worth N1.59 billion. It was trailed by Zenith Bank in which investors’ staked N1.06 billion on 46.05 million shares, while GTBank traded 18.97 million shares valued at N529.91 million. Ecobank Transnational Incorporated exchanged 16.87 million shares worth N222.61 million, while Transcorp sold 15.21 million shares valued at N55.44 million.