Posted by By Jerome Ushakang on
The market capitalisation of the Nigeian Stock Exchange (NSE) yesterday grew by N13 billion representing 0.64 per cent of the total market value.
The market capitalisation of the Nigeian Stock Exchange (NSE) yesterday grew by N13 billion representing 0.64 per cent of the total market value.
At the close of transactions, trading results released by the NSE showed that it recorded N2.026 trillion compared with N2.013 trillion recorded last Friday.
The rise in the market value has been attributed to bullish trading conducted yesterday.
Similarly, the all-share index rose by 0.64 per cent, from 22,230.47 to 22,373.07 points.
The trading results further revealed that the market turnover closed at 119.14 million ordinary shares valued at N759.3 million executed in 3,496 deals in contrast to 98.77 million ordinary shares worth N829.5 million exchanged in 3,679 deals last Friday.
This indicated that the volume of shares traded by the NSE increased by 20.37 million ordinary shares or 20.6 per cent.
Meanwhile, the banking subsector recorded a turnover of 108.2 million ordinary shares valued at N508.4 million ordinary shares executed in 1,704 deals as against a total of 82.4 million ordinary shares worth N549.6 million made in 1,673 deals last Friday, thus indicating an increase of 25.8 million ordinary shares representing 31.3 per cent.
The highest volume of shares traded by the banking subsector was largely driven by activities in the shares of Hallmark Bank Plc and IMB International Bank Plc.
Trading on the shares of the two banks accounted for 75.5 million ordinary shares representing 69.7 per cent of the subsector's turnover.
The price movement chart of the NSE indicated that 35 stocks appreciated in their prices. Total Nigeria Plc led on the price gainers chart with N4.00 gain to close at N170.00 per share.
Other top price gainers included Nestle Nigeria Plc (N2.99), Conoil Plc and Texaco Nigeria Plc (N2.95 apiece), First Bank of Nigeria Plc (N1.34), Guinness Nigeria Plc and Oando Plc (48 kobo apiece), GlaxosmithKline Consumer Plc (32 kobo), 7Up Bottling Company Plc (27 kobo) and Flour Mills of Nigeria Plc (20 kobo).
However, the prices of 17 stocks declined. Nigerian Bottling Company Plc led on the price losers chart. It recorded a loss of N1.00 to close at N52.00 per share.
Other top price losers were: Ashaka Cement Plc (55 kobo), Berger Paints Plc (19 kobo), WAPIC Insurance Plc (14 kobo), Neimeth International Pharmaceuticals Plc (12 kobo), Hallmark Bank Plc and
Unilever Nigeria Plc (10 kobo apiece ), Van Leer Containers Nigeria Plc and Cornerstone Insurance Company Plc (7 kobo apiece) and UACN Plc (6kobo).