NSE market capitalisation appreciates by N27bn

NSE market capitalisation appreciates by N27bnThe market capitalisation of the Nigerian Stock Exchange for the third consecutive day on Wednesday posted further growth increasing by N27bn.

The News Agency of Nigeria reported that the market capitalisation rose by N27bn or 0.23 per cent to close at N11.55tn against N11.52tn on Tuesday.

Similarly, the All-Share Index, which opened at 33,436.61, inched 78.32 points or 0.23 points to close at 33,514.93 due to price growth by some highly capitalised equities.

Seplat led the gainers’ table during the day, appreciating by N9.98 to close at N485 per share.

Guinness followed with a gain of N3.10 to close at N66.10 and Okomuoil Palm increased by N1.50 to close at N64.50 per share.

PZ Industries added N1.05 to close at N22.05, while Stanbic IBTC grew by 99k to close at N32.49 per share.

On the other hand, Nestle posted the highest loss to lead the losers’ table, shedding N16.50 to close at N903.50 per share.

Presco trailed with a loss of N3.22 to close at N61.32 and Dangote Cement shed N2 to close at N208 per share.

MRS declined by N1.86 to close at N15.44 and Flour Mills depreciated by N1.10 to close at N25.15 per share.

NAN also reported that the volume of shares traded closed lower as investors bought and sold 331.43 million shares valued at N3.24bn in 4,055 deals.

This was in contrast to a turnover of 2.40 billion shares worth N21.61bn transacted in 3,715 deals on Tuesday.

Zenith Bank was the toast of investors, exchanging 33.11 million shares worth N727.82m.

United Bank for Africa sold 29.25 million shares valued at N251.71 million, while FBN Holdings traded 26.56 million shares worth N160.75m.

Custodian and Allied Insurance exchanged 25.25 million shares valued at N85.86 million and NEM Insurance sold 24.56 million shares worth N29.81m.

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