Market Capitalisation Appreciates By N27bn

Equity transactions rebounded on the Nigerian Stock Exchange (NSE) yesterday as some blue chip companies appreciated in value, resulting in market capitalisation moving up by N27 billion.

The NSE All-Share index also appreciated by 81.34 points or 0.20 per cent to close higher at 40,729.49 against the 40,648.15 it achieved on Tuesday.

Wapco topped the gainers’ chart, gaining N3.75 to close at N123.75 per share. Dangote Cement came second on the gainers’ chart with N2.00 to close at N222, while Presco rose by N1.50 to close at N37.50 per share.

Nigerian Breweries grew by N1.05 to close at N176.05, while Nestle gained 60 kobo to close at N1, 010.60 per share.

On the other hand, Total topped the losers’ chart, dropping by N4.90 to close at N175.10 per share.

Forte Oil followed with a loss of N3.00 to close at N218, while Conoil dipped by N2.52 to close at N47.99 per share.

Guinness lost N1 each to close at N171 while UACN went down by 99 kobo to close at N56.91 per share.

In all, a total of 195.989 million shares valued at N2.80 billion were exchanged in 4,876 deals, representing a decline of 62.25 per cent as against a turnover of 519.12 million shares worth N4.21 billion achieved in 4,573 deals on Tuesday.

Transcorp emerged the most traded stock, accounting for 25.57 million shares valued at N153.32 million. It was trailed by Zenith Bank, which sold 16.83 million shares worth N407.63 million, while Guaranty Trust Bank accounted for 16.06 million shares valued at N459.98 million.

Fidelity Bank traded 11.09 million shares worth N21.67 million, while investors in FBN Holdings staked N11.05 million on 160.93 million shares.