Type to search

NSE market capitalisation gains N105bn on sustained positive sentiments

Capital Market

NSE market capitalisation gains N105bn on sustained positive sentiments


The nation’s bourse maintained positive sentiments on Thursday with the market capitalisation advancing by N105 billion, the biggest gain since June 26.

SEE ALSO: 20 ships laden with petroleum products, food items awaiting to berth — NPA

Specifically, the market capitalisation appreciated by investors’ N105 billion or 0.83 per cent to close at N12.692 trillion, against N12.587 trillion on Wednesday.

In the same vein, the All-Share Index increased by 199.80 points or 0.83 per cent to close at 24,330.06 compared with 24,130.26 on Wednesday.

The positive performance was spurred by gains in market large caps MTNN, AIRTELAFRI and Tier 1 bank stocks.

Thus, Month-to-Date and Year-to-Date losses moderated to -0.6 per cent and -9.4 per cent, respectively.

Analysts at Afrinvest Limited expected the local bourse to close the week negative, following possible profit-taking activities.

Consequently, the market breadth closed on a positive note, with 17 gainers in contrast with 16 losers.

Ikeja Hotel recorded the highest price gain to lead the gainers’ chart in percentage terms, growing by 9.80 per cent to close at N1.12 per share.

Presco followed with 9.28 per cent to close at N4.45, while Cadbury Nigeria rose by 7.41 per cent to close N7.25 per share.

Courteville grew by five per cent to close at 21k, while Honeywell Flour Mill appreciated by 4.35 per cent to close at 96k, per share.

On the other hand, Nigerian Aviation Handling Company led the losers’ chart in percentage terms, dropping 9.17 per cent to close at N1.98, per share.

Unity Bank followed with a loss of 8.16 per cent to close at 45k while Ecobank shed 7.45 per cent to close at N4.35 per share.

Fidson lost 7.02 per cent to close at N2.65 while Associated Bus Company dipped six per cent to close at 47k per share.

The total volume of trade decreased by 0.38 per cent as investors bought and sold 207.42 million shares valued at N1.70 billion, traded in 3,323 deals.

This was against the exchange of 208.21 million shares worth N1.76 billion achieved in 3,648 deals on Wednesday.

Transactions in the shares of Sterling Bank topped the activity chart with 60.08 million shares valued at N75.11 million.

FBN Holdings followed with 20.67 million shares worth N103.35 million, while Japaul Oil accounted for 17.28 million shares worth N4.15 million.

Transcorp traded 11.57 million shares valued at N7.17 million, while Custodian Investment transacted 10.01 million shares worth N48.03 million.


You Might also Like

Leave a Comment

Your email address will not be published. Required fields are marked *