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Market Capitalisation Rises by ₦28bn

Market Capitalisation Rises by ₦28bn
Trading floor, Nigerian Stock Exchange

Equities rose on Wednesday, the first trading day of the week following the public holiday, to lift major market indices.

For instance, the market capitalisation of the listed equities rose by ₦28bn or 0.2 percent from Friday’s close of ₦13.962tn to close at ₦13.990tn.

The Nigerian Stock Exchange All Share Index also rose by 0.2 percent – or 83.17 basis points – to close at 42,368.99 basis points, up from 42,285.82 basis points.

The NSE 30 Index, which tracks the performance of the 30 most capitalised companies on the Exchange, appreciated marginally.

It advanced by 0.03 percent or 0.60 basis points to close at 1,933.81 basis points from 1,933.21 basis points.

The banking sub-sector dominated the activity chart in terms of volume traded, accounting for 71.3 percent of total turnover traded.

In the sub-sector, 509.273 million shares valued at ₦3.794bn were traded in 1,604 deals with Access Bank Plc and Wema Bank Plc driving volume.

Unity Bank Plc, Zenith Bank Plc and Fidelity Bank Plc also recorded high volume turnover in the sub-sector.

In all, investors exchanged 713.842 million stocks worth ₦6.728bn in 5,830 deals with 29 equities recording price appreciation and another 29 making losses.

Oando Plc was the day’s top gainer. It gained 9.7 percent or ₦2.47 to close at ₦27.94 per share.

Portland Paints and Products Plc rose by 4.98 percent or 26 kobo to close at ₦5.48 per share. Stanbic IBTC Holdings Plc was also up by 4.98 percent to close at ₦30.54 per share.

Also, Evans Medical Plc gained 4.85 percent or 10 kobo to close at ₦2.16 per share.

Red Star Express Plc led the losers, shedding seven percent or 35 kobo to close at ₦4.56 per share.

Wapic Insurance Plc and Honeywell Flour Mills Plc fell by 5.56 percent and 4.94 percent to close at 85 kobo and ₦4.04 per share, respectively, while Cap Plc declined by 4.88 percent or ₦2 to close at ₦39 per share.

The most traded stocks for the day are Access Bank Plc, 217.528 million shares at ₦2.172bn; Wema Bank Plc, 153.443 million shares worth ₦162.7m; and Transnational Corporation of Nigeria Plc, 44.5 million shares worth ₦242.4m.

Source - The Punch

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