Market capitalisation increases by N37bn on NSE

Equities’ transactions on the Nigerian Stock Exchange (NSE) closed on Friday in an upward trend as the the market capitalisation improved by N37 billion.

The News Agency of Nigeria (NAN) reports that the market capitalisation closed higher at N12.554 trillion from the N12.517 trillion posted on Thursday.

The increase in the market capitalisation is due to price gains.

The All-Share Index also increased by 114.4 basis points to close higher at 39,083.66 as against the 38,969.26 achieved on Thursday.

An analysis of the price movement chart indicated that Forte Oil led on the gainers’ table by N12.57 to close at N135.27 per share.

Mobil Oil came second with N3.94 to close at N123.99, while Cadbury gained N2 to close at N79 per share.

Julius Berger and Zenith Bank gained N1.40 and 45k to close at N69.90 and N21.70 per share respectively.

On the other hand, Total topped the losers’ chart by N2.38 to close at N170 per share.

Lafarge Wapco trailed by N2 to close at N106, while Nigerian Breweries lost N1.85 to close at N149 per share.

UBN depreciated by 35k to close at N10, while Cement Company of Northern Nigeria declined by 27k to close at N9.21 per share.

The volume of shares traded increased by 6.66 per cent due to an exchange of 274.05 million shares worth N3.99 billion transacted in 4,407 deals.

This was in contrast to the 256.93 million shares valued at N3.72 billion traded in 4,181 deals on Thursday.

Access Bank emerged the most traded stock, accounting for 58.39 million shares worth N446.15 million.

It was followed by Transcorp, which exchanged 40.89 million shares valued at N149.27 while FBN Holdings traded 21.83 million shares worth N269.11 million.

Fidelity Bank sold 19.78 million shares valued at N42.77 million and Sterling Bank transacted 16.23 million shares worth N42.62 million. (NAN)