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Sat, Feb

Market Capitalisation Rose By N24 Billion

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Positive sentiments persisted on the Nigerian Stock Exchange on Wednesday with the All-Share Index extending growth by 0.11 percent. Specifically, the All-Share Index improved further by 45.10 points or 0.11 percent to close at 40, 341.05 against 40, 295.95 achieved on Tuesday.

Also, the market capitalization rose by N24 billion or 0.11 percent to close at N21.094 trillion from N21.069 trillion posted on Tuesday. The market gain was piloted by price appreciation in medium and large capitalized stocks amongst which were: Mobil, Flour Mills, BOC Gases, Seplat, and Ardova.

Market breadth closed positive with 32 gainers compared with 16 losers. Academy Press, Sovereign Trust Insurance, and Veritas Kapital Assurance dominated the gainers’ chart in percentage terms, gaining 10 percent each to close at 33k, 22k, and 22k per share, respectively.

BOC Gases followed with 9.92 percent to close at N12.52, while Champion Breweries rose by 9.80 percent to close at N1.12 per share.

On the other hand, Chellarams led the losers’ chart in percentage terms losing 9.96 percent to close at N2.26 per share.

Livestock Feeds followed with a loss of 9.74 percent to close at N1.76, while Consolidated Hallmark Insurance shed 8.82 percent to close at 31k per share.

FTN Cocoa shed 5.88 percent to close at 64k, while Cutix lost five percent to close at N2.09 per share. However, the total volume of shares traded declined by 59.9 percent to 468.15 million shares valued at N6.96 billion exchanged in 5,697 deals. This was against 1.17 billion shares worth N7.97 billion transacted in 5,591 deals on Tuesday.

Transactions in the shares of Zenith Bank topped the activity chart with 45.77 million shares valued at N1.19 billion. Lasaco Assurance followed with 40.73 million shares worth N17.02 million, while United Bank for Africa traded 31.82 million shares valued at N283.11 million.

Japaul Gold and Ventures traded 20.98 million shares valued at N26.64 million, while Sovereign Trust Insurance transacted 19.06 million shares worth N4.19 million.