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Market capitalisation rises by N28bn

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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 N28bn or 0.2 per cent from Friday’s close of N13.962tn to close at N13.990tn.

The Nigerian Stock Exchange All Share Index also rose by 0.2 per cent – 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 per cent 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 per cent of total turnover traded.

In the sub-sector, 509.273 million shares valued at N3.794bn 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 N6.728bn 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 per cent or N2.47 to close at N27.94 per share.

Portland Paints and Products Plc rose by 4.98 per cent or 26 kobo to close at N5.48 per share. Stanbic IBTC Holdings Plc was also up by 4.98 per cent to close at N30.54 per share.

Also, Evans Medical Plc gained 4.85 per cent or 10 kobo to close at N2.16 per share.

Red Star Express Plc led the losers, shedding seven per cent or 35 kobo to close at N4.56 per share.

Wapic Insurance Plc and Honeywell Flour Mills Plc fell by 5.56 per cent and 4.94 per cent to close at 85 kobo and N4.04 per share, respectively, while Cap Plc declined by 4.88 per cent or N2 to close at N39 per share.

The most traded stocks for the day are Access Bank Plc, 217.528 million shares at N2.172bn; Wema Bank Plc, 153.443 million shares worth N162.7m; and Transnational Corporation of Nigeria Plc, 44.5 million shares worth N242.4m.

Article Credit: Punchng

Updated 4 Years ago

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Tags:     Equity Market     Nigerian Stock Exchange     Access Bank Plc     Wema Bank Plc