NSE: Market capitalisation rises by N64 billion as CCNN, Stanbic IBTC lead

The bulls conitnued to dominate trading on the Nigerian Stock Exchange (NSE) with the market capitalisation growing by N64 billion, following interest across value stocks.

Specifically, the market capitalisation which opened at N11.174 trillion rose by N64 billion or 0.57 per cent to close at N11.238 trillion.

Similarly, the All-Share Index inched 172.74 points or 0.58 per cent to close at 30,137.53 compared with 29,964.79 posted on Monday.

All sectoral indices closed positive, with the insurance index leading the pack with 3.50 per cent.

It was followed by the Industrial (3.11 per cent), Consumer Goods (0.22 per cent), banking (0.34 per cent), and Oil & Gas (0.28 per cent) indices.

Market breadth was positive with 21 losers and 13 gainers, led by Cement Company of Northern Nigeria (CCNN).

Analysts at Cordros Capital said that equities market would remain cautious due to political fears ahead of the general elections.

“Our views for the equities market remain cautious as political jitters ahead of the 2019 elections intensifies, and the absence of a positive market trigger.

“However, positive macroeconomic fundamentals remain supportive of recovery in the long term,” they said.

CCNN led the gainers’ table, appreciating by N2 to close at N22 per share.

Stanbic IBTC followed with a gain of N1.35 to close at N47.50, while C & I Leasing gained 75k to close at N9.04 per share.

Dangote Sugar added 55k to close at N14.55, shile Oando appreciated by 25k to close at N4.55 per share.

Conversely, Total recorded the highest loss to lead the losers’ table, dropping by N5.20 to close at N195 per share.

Air Service trailed with a loss of 75k to close at N7.15, while Guinness dipped by 25k to close at N64.75 per share.

UPL was down by 10k to close at N1.90, while Neimeth international Pharmaceutical shed 6k to close at 64k per share.

Diamond Bank remained the most active stock during the day, trading 100.67 million shares valued at N209.01 million.

Guaranty Trust Bank came second with an account of 39.41 million shares worth N1.32 billion, while United Bank for Africa exchanged 26.15 million shares valued at N191.33 million.

FBN Holdings sold 23.36 million shares valued at N171.86 million, while Zenith Bank traded 21.13 million shares worth N462.99 million.

Meanwhile, total volume surged by 141.71 per cent with an exchange of 300.03 million units, valued at N3.25 billion transacted in 3,760 deals.

This was against the 124.13 million shares worth N1.03 billion traded in 2,438 deals on Monday.

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