NSE’s indices sustain rising profile, up by N54b

Following price gains recorded by most blue chip companies, the bulls maintained dominance on the trading floor of the Nigerian Stock Exchange (NSE) yesterday, resulting to a further rise in market capitalisation by N54 billion.

Specifically, at the close of transactions yesterday, the market capitalisation which opened at N8.246 trillion rose by N54 billion, to close at N8.300 trillion.

Also, the All-Share Index appreciated by 154.31 points or 0.64 per cent to close at 24,135.40 from 23,977.10 recorded on Tuesday.
An analysis of yesterday’s transactions showed that Seplat topped the gainers chart with a gain of N10 to close at N260 per share.

Mobil Oil followed with N7.60 to close at N159.60. Dangote Cement improved by N2.03 to close at N135.99 per share. Okomu Oil rose by N1.41 to close at N29.40 and Nigerian Breweries gained 95k to close at N97.01 per share.

Conversely, 7UP recorded the highest price loss to lead the losers’ chart, dropping by N9.19 to close at N174.79 per share.

Nestle dipped N5.02 to close at N700, while Unilever lost N1.67 to close at N31.76 per share. Glaxosmithkline decreased by N1.15 to close at N22.01 and Con Oil shed N1.01 to close at N19.24 per share.

Similarly, the volume of shares traded closed higher with a turnover of 320.75 million shares valued N1.82 billion exchanged in 3,178 deals. This was in contrast with 169.50 million shares worth N1.52 billion transacted in 3,020 deals on Tuesday.

FCMB Group dominated in volume terms, accounting for 102.67 million shares valued N100.49 million in 170 deals.

Continental Assurance came second with 39. 51 million shares worth N38.72 million, while Equity Assurance sold 37.76 million shares valued N18.88 million traded in three deals.

Zenith Bank exchanged 30.83 million shares worth B381.68 million achieved in 560 deals and FBN Holdings recorded 21.36 million shares valued N83.28 million transacted in 298 deals.