NSE’s market capitalisation increases by N83bn amid Caverton listing

The market capitaisation of the Nigerian Stock Exchange (NSE), on Tuesday increased by 0.65 per cent due to the listing of Caverton Offshore Support Group shares. A total of 3.35 billion units of Caverton ordinary shares of 50k were listed at N9.50 per share. Consequently, the market capitalisation increased by N83 billion or 0.65 per cent to close at N12.931 trillion against N12.848 trillion achieved on Monday. The All-Share Index rose by 155.09 basis points or 0.40 per cent to close at 39,162.49 when compared with 39,007.40 posted on Monday.

A breakdown of the price movement chart indicated that Forte Oil recorded the highest price gain of N7.55 to close at N163.50 per share. Nigerian Breweries came second with a gain of N2 to close at N166.50, while Mobil grew by 97k to close at N120.03 per share.

Stanbic IBTC garnered 76k to close at N22.50 and Ecobank Transnational Incorporated appreciated by 70k to close at N14.81 per share.

Conversely, Nestle topped the losers’ chart by N6 to close at N1,070 per share.

Lafarge Wapco trailed by N2.49 to close at N110.01, while Betaglass depreciated by 94k to close at N17.96 per share. UAC Property dropped 85k to close at N17.16, while Berger Paint dipped by 45k to close at N9.70 per share. In all, investors’ bought and sold 298.21 million shares worth N3.90 billion transacted in 4,660 deals, indicating an increase of 44.28 per cent.

This was against the 206.69 million shares valued N2.73 billion traded in 4,406 deals on Monday. Zenith Bank drove the activity chart in volume terms, accounting for 31.09 million shares worth N715.34 million. It was trailed by Lafarge Wapco with a total of 25.43 million shares valued N19.09 million, while FCMB traded 22.91 million shares worth N86.85 million. FBN Holdings exchanged 19.42 million shares valued N252.72 million, while investors’ staked N158.56 million on 17.08 million shares of Access Bank.