Business

Market capitalisation of stock exchange improves by N70bn

The Nigerian Stock Exchange (NSE) on Friday sustained positive trend with the market indices appreciating further by 0.47 per cent.

Specifically, NSE the All-Share Index rose by 133.19 points or 0.47 per cent to close at 28,697.06 compared with 28,563.87 achieved on Thursday.

Similarly, the market capitalisation which opened at N14.929 trillion improved by N70 billion or 0.47 per cent to close at N14.999 trillion.

An analysis of the price movement chart shows that

NASCON led the gainers’ table, growing by N1.30 to close at N14.30 per share.

Dangote Cement followed with N1 to close at N151, while Guaranty Trust Bank gained 45k to close at N30.45 per share.

Zenith Bank gained 35k to close at N21, while PZ Cusson added 30k to close at N4.40 per share.

Conversely, Northern Nigeria Flour Mills topped the losers’ chart, dropping by 46k to close at N4.19 per share.

Vitafoam trailed with a loss of 20k to close at N6, while NPF Micro finance Bank was down by 6k to close at N1.34 per share.

Honey Well Flour dipped 4k to close at 91k, while Mutual Benefits Insurance lost 1k to close at 20k per share.

Further analysis of the activity chart indicates that

Access Bank was the most active stock, exchanging 80.54 million shares valued at N622.88 million.

Guaranty Trust Bank sold 76.49 million shares worth N2.29 billion, United Bank for Africa traded 24.93 million shares cost N174.41 million.

FBN Holdings traded 24.39 million shares valued at N146.20 million, while Zenith Bank accounted for 19.56 million shares worth N409.30 million.

In all, investors exchanged 282.97 million shares valued at N4.43 billion in 2,942 deals, indicating a decrease of 9.11 per cent.

This was against a turnover of 311.33 million shares valued at N4.69 billion traded in 3,375 deals on Thursday

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